As it emerges from lockdown Britain’s economy appears to be recovering faster than anticipated. Forecasters have revised up their predictions for growth and lowered their projections for the unemployment rate. This follows a range of data that came in far stronger than forecast, from jobless figures to retail sales.

Partly, the UK’s bounce-back reflects the same factors that have lifted expectations for other rich countries: a vaccination programme, an end to lockdowns and high rates of household saving. ..

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