This week marked a year since the first lockdown was introduced. Over that
period consumers and firms have increasingly adapted to life under lockdown and, with a range of data suggesting that activity has firmed during the latest set of restrictions, Q1’s fall in GDP looks likely to be modest.
The response of consumers will be key to the strength of the subsequent
recovery. Low inflation and a resilient labour market will offer strong support. A large stockpile of excess savings offers further cause for optimism, though we are relatively cautious about the extent to which it will be spent.
Download this report to learn more about London's: