Past experience supports the view that sharp increases in unemployment will not necessarily prevent a recovery in consumer spending and overall activity, despite their adverse impact on household incomes and confidence. However, a sustained consumer recovery still appears to be some way off.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services