‘Contagious pessimism’ hitting recovery, warns Bank of England economist

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World is slowly emerging from the pandemic

Andy Haldane, the Bank of England’s chief economist, warned on Wednesday that “contagious pessimism” in the UK was undermining the economic recovery, as the Office for National Statistics revised its estimate of the depth of the recession in the second quarter.

Official figures now show that the economy contracted 19.8 per cent in the second quarter compared with the previous three months, marginally better than the first…

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