Deloitte's chief economist comments on today's GDP figures

Commenting on the latest GDP figures, Ian Stewart, chief economist at Deloitte, said:

“In just a few weeks the lockdown shrank the economy by a quarter. The recovery has started, but getting lost growth back will take years, not weeks."

“Unemployment, rising debt and business insolvencies will weigh on the recovery. The economy is unlikely to return to pre-COVID levels of activity until 2022.”

End

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