Oxford Economics predicts a quick post-virus recovery – with one big caveat
Britain is midway through a deep recession: of that there is no doubt. But what next? Oxford Economics has today been one of the first to offer an answer, predicting a V-shaped economic recovery (sharp economic downturn and sharp economic revival) and near-complete economic repair. It is, of course, a guess: all forecasts are. But it’s one worth looking into in a bit more detail. All published economic forecasts pre-Covid-19 (including those accompanying the Chancellor’s Budget last week) are defunct, so this is an early test - one that factors in the Government's policy of ‘social distancing’ and the profound impact this has on business as usual. Oxford Economics has replaced its estimate of modest GDP growth of one per cent to a prediction of a fall of 1.
