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COVID-19 economic hole far smaller

November’s GDP figures which suggested that the economy ended 2020 in a far better position than we had thought and the promising start to the vaccine roll out have given us some cause for optimism. We were already more upbeat than most forecasters in expecting GDP to return to its pre-virus level in Q2 2022. We now think Q1 2022, if not late this year, is plausible.

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