"The worst may be behind us but a full recovery is not yet on the horizon,” says Yael Selfin, Chief Economist at KPMG UK.
“The expected modest pick-up in May, as lockdown restrictions eased for some sectors, underscores the challenges many sectors still face. Social distancing is likely to remain the norm for some time and the threat of new lockdowns and rising unemployment will curtail demand.
“May saw a rise in activity, confirming the nascent improvement in the UK economy, particularly in manufacturing as it re-started before lockdown was lifted. The strong rise in on-line non-food retail sales is likely to continue in the longer term at the expense of high street outlets.
“Despite a recovery of 1.8% in May, the economy was still 24.5% smaller than a mere three months earlier.“
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