Econ­omy creeps back to life as staff and shop­pers re­turn

The Daily Telegraph - Business - - Business -

Bri­tain’s re­cov­ery is get­ting un­der way as shop­pers flock to re­tail parks and busi­nesses bring back fur­loughed work­ers, writes Tim Wal­lace.

Fur­ther­more, half of staff are now trav­el­ling into work again and the hous­ing mar­ket ap­pears to be shak­ing off its slum­ber.

Grad­ual re­open­ing of dif­fer­ent in­dus­tries has started to take ef­fect, in­di­ca­tors from the Of­fice for Na­tional Sta­tis­tics sug­gest, as bat­tered firms get back to work.

Much of this chimes with com­ments from Andy Hal­dane, the Bank of Eng­land’s chief econ­o­mist, that the econ­omy could be see­ing early signs of a rapid “V-shaped” re­cov­ery.

Re­tail parks now have around 70pc of their usual vis­i­tor numbers, up from a low of around 10pc at Easter.

The re­bound is most likely be­cause re­tail parks, with their open-air set­tings and larger shops, are able to let cus­tomers in while main­tain­ing the nec­es­sary so­cial dis­tanc­ing. Just un­der one quar­ter of their staff are now on fur­lough, down from 30pc a fort­night ago.

As the econ­omy re­opens, more staff are go­ing back in to work – 49pc now travel to work daily, up from 36pc in late May.

Al­most one fifth of busi­nesses in ac­com­mo­da­tion and food restarted trad­ing in the past fort­night. An­other one in 10 ex­pects to re­open in the com­ing two weeks af­ter “Su­per Satur­day” to­mor­row.

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