Bank of England governor Andrew Bailey says that while the UK economy is starting to recover from the coronavirus lockdown, the rebound seen so far has been uneven. Mr Bailey said that activity in the housing and car markets is resuming “quite strongly” but the hospitality and entertainment sectors, which employ large numbers of people, many of whom are on low pay, are struggling.
Speaking during a webinar yesterday, he said a “very big question” remains over whether people would return to their pre-pandemic habits and spending patterns. When asked if the UK economy would see a V-shaped recovery, he said: “We don’t yet know the full story of this.” He also said the impact company failures could have on the economy is unclear.
Read more: City AM