However welcome this bounceback, it contains dangers – in the housing market, in the event of another Covid wave, and in terms of righting a lopsided economy
Prepare for an almighty sugar rush. There are signs everywhere of a summer spree across the post-lockdown economy. Restaurants and pubs report a flood of bookings. Estate agents in some parts of the country talk of the most buoyant market in 25 years, with six or seven serious buyers jostling for every home on sale. In industry, construction and manufacturing are both humming along. Forget all that talk of a vaccine bounce; this has all the makings of a vaccine bubble.
Wednesday’s GDP report shows that at the start of this year the economy shrank by less than many economists originally expected, and by March it was growing at a fair clip, even though the lockdown across the country was yet to be totally eased. This points to a bumper summer, as more Britons are vaccinated, more families book holidays, and businesses dip into their coffers for a bit of investment.
