U.K. Economic Scarring From Virus Relatively Small in Historic Comparison
(Bloomberg) -- The U.K. economy will struggle to avoid scarring from the current downturn, though the hit could be smaller than after previous recessions, according to Bloomberg Economics. There are two key reasons to think the medium-term damage may be more limited: First, the policy response has been enormous, helping to protect jobs and companies through the lockdown. Second, the recession hasn’t been brought about by a build-up of imbalances, which would require a painful adjustment.
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