The future may be V shaped, but it would be rash to count on it | Nils Pratley

Sadly, it’s very easy to see how the early stirrings could be crushed by a surge in unemployment

It’s obligatory these days, even if you’re the chief economist of the Bank of England, to play the game of ascribing a letter to the likely shape of the UK’s economic recovery, so here’s Andrew Haldane’s take: “It’s early days, but my reading of the evidence is so far, so V.”

As a headline-grabber, it is excellent. Most of the forecasting world rejected the V-shaped thesis weeks ago. The IMF, as it knocked another chunk off its global GDP forecast for 2020 last week, summed up the mood: “A crisis like no other, an uncertain recovery.”

Continue reading…
Source: theguardian
The future may be V shaped, but it would be rash to count on it | Nils Pratley