Video: U.S. Job Gains Slow as Economic Recovery Downshifts (Bloomberg)
The UK economy continued its rapid rebound from the depths of the coronavirus lockdown in August, the latest official data on growth is expected to show on Friday, but many economists are braced for a grim winter as job losses mount.
The Bank of England’s chief economist, Andy Haldane, predicted last week that GDP would be “only around 3-4% below its pre-Covid level” by the end of the third quarter, covering July to September.
That would imply further significant increases in the UK’s economic output since July, when output remained 11.8% below the level hit in February, according to figures from the Office for National Statistics. The full picture for the third quarter will not be evident until