A strong economic recovery following the Covid-19 pandemic is likely in the UK, according to a report commissioned by the Institute of Chartered Accountants in England and Wales (ICAEW).
The Oxford Economics report suggested that because GDP has fallen as part of a planned, partial economic shutdown, in theory, activity and demand should rebound as restrictions lift, particularly given fiscal and monetary support from government and the Bank of England since the crisis began.
The report predicts that the economy should return to growth in the second half of the year if the lockdown continues to be relaxed over the summer.
Read the full article in the International Accounting Bulletin here