-
Important news
-
News
-
Shenzhen
-
China
-
World
-
Opinion
-
Sports
-
Kaleidoscope
-
Photos
-
Business
-
Markets
-
Business/Markets
-
World Economy
-
Speak Shenzhen
-
Health
-
Leisure
-
Culture
-
Travel
-
Entertainment
-
Digital Paper
-
In-Depth
-
Weekend
-
Newsmaker
-
Lifestyle
-
Diversions
-
Movies
-
Hotels and Food
-
Special Report
-
Yes Teens!
-
News Picks
-
Tech and Science
-
Glamour
-
Campus
-
Budding Writers
-
Fun
-
Qianhai
-
Advertorial
-
CHTF Special
-
Futian Today
在线翻译:
szdaily -> World Economy -> 
UK economy picks up steam as hiring restarts
    2021-04-19  08:53    Shenzhen Daily

THE U.K. economy is building momentum, with real-time indicators suggesting consumers have started to splurge some of the cash they’ve saved now that the government has loosened lockdown rules.

Restaurant bookings and job postings surged to the highest since the start of the coronavirus pandemic, while road traffic and the number of people traveling to workplaces grew in recent weeks, data from Bloomberg Economics and government statistics show. Shops and bars were allowed to reopen April 12, and most restrictions are set to lapse by June 21.

With more almost two thirds of adults in the United Kingdom immunized against the coronavirus, Prime Minister Boris Johnson is starting to relax advice on containing the virus. Bank of England (BOE) Governor Andrew Bailey anticipates a strong recovery as households unleash some of the 150 billion pounds (US$207 billion) of savings accumulated over the past year.

The number of online job advertisements in the United Kingdom returned to levels seen before the pandemic for the first time, according to data through April 9 from the Adzuna jobs website published by the Office for National Statistics. That’s a positive sign after a year that saw Britain lag many of its global peers with business lacking the confidence take on new staff. There was a notable jump in catering and hospitality roles.

Postings on jobs website Indeed have recovered to about 16 percent below those seen at the start of February 2020. They have jumped by a fifth since the United Kingdom set out a roadmap to easing restrictions. Top gainers include sectors that are reopening such as sports, beauty and food services.

The proportion of furloughed workers that actually return to the labor market will be key to the consumer recovery, according to Fabrice Montagne, chief U.K. economist at Barclays Bank Plc. He’s cautious about predictions for the kind of “rip-roaring recovery” suggested by the BOE’s outgoing chief economist Andy Haldane.

“The third lockdown has actually been much less disruptive than we’d thought,” Montagne said. “Hence the bounce will be automatically smaller. Sentiment is strong. The recovery will still happen, but in a more civilized way than pictured by Andy ‘Mr. Boom’ Haldane.”

The service sector is still 8.8 percent smaller than before the pandemic. (SD-Agencies)

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010-2020, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@126.com