A number of people have talked about a 'strong' forecast. I find that rather misleading, because of course it is from a very low base. If you go down by 25% then you go up by 25% ... it doesn't take you back to where you started."
British government forecasters predicted on Wednesday a 4.0% expansion this year and 7.3% growth in 2022, after a historic 9.9% collapse in 2020.
LONDON: The rapid growth rebound forecast for Britain this year should not be confused with underlying economic strength, as it reflects only a partial recovery from 2020's COVID-driven slump, Bank of England policymaker Jonathan Haskel said on Friday.
"A number of people have talked about a 'strong' forecast. I find that rather misleading, because of course it is from a very low base. If you go down by 25% then you go up by 25% ... it doesn't take you back to where you started," Haskel said.
British government forecasters predicted on Wednesday a 4.0% expansion this year and 7.3% growth in 2022, after a historic 9.9% collapse in 2020.
Comments
Comments are closed.