Eco­nomic week ahead

The Daily Telegraph - Business - - Business -

Is the UK on track for a “V-shaped” eco­nomic re­cov­ery or not? Andy Hal­dane, the Bank of Eng­land’s chief econ­o­mist, will be ex­plain­ing his rel­a­tively chirpy view to MPs to­day at his reap­point­ment hear­ing be­fore the Trea­sury com­mit­tee. Ex­ter­nal MPC mem­ber Sil­vana Ten­reyro will also be on hand to give her views. To­mor­row the ex­tent of the harm to pub­lic fi­nances is re­vealed. Economists ex­pect the ONS to say the Gov­ern­ment bor­rowed at least £30bn in June. That is a lot by usual stan­dards, but a fall from £55bn in May.

The state of the econ­omy since then will be ex­am­ined with the ONS’s “faster in­di­ca­tors” on Thurs­day, which seek to give an ad­vanced view of growth. Jonathan Haskel, a Bank of Eng­land pol­i­cy­maker, is giv­ing a speech on the eco­nomic im­pact of the virus on the same day. Fri­day’s PMIs will hint at July’s busi­ness per­for­mance. Economists pre­dict a mod­est move into pos­i­tive ter­ri­tory, in­di­cat­ing out­put is still well down on pre-pan­demic lev­els.

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