The pain of the collapse in GDP has been shouldered predominately by the government and businesses while households have got off relatively lightly. But the unwinding of the government’s job furlough scheme means that this is about to change. So while the “recession” in output is already over, the “recession” for households has only just begun.
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