Economic Briefing Report
Pandemic pains and Brexit games
UK GDP fell by 2% qoq in Q1, with output falling by a record 5.8% in March, giving a foretaste of the economic impact of the pandemic. Household consumption fell by 1.7%. The CJRS has undoubtedly helped spending, which would have seen a deeper fall without the scheme. Currently, there are 8.4 million furloughed employees.