Suren Thiru, head of economics at the British Chambers of Commerce (BCC), explains that despite the UK’s economic contraction in the first quarter of 2021, the resilience of their businesses and the reopening of schools in March has seen the UK enjoying a recovery of its output. And therefore, positive results following the relaxation of sanitary measures. Suren Thiru added that the situation could improve through vaccination policies.
BCC’s head of economics affirms that this outbreak will inevitably cause long-term economic damages, and “will increasingly weigh on business activities as government support winds down”, making the recovery slower than expected.
To read the whole BCC article, click here