Aggregate data in Britain has prompted some forecasters to draw this conclusion. Capital Economics senior UK economist Ruth Gregory wrote this month that households repaid £1.5 billion ($2.7 billion) of unsecured loans in November’s second lockdown, for want of much else to do with their dough. “Stronger household balance sheets should mean that there is plenty of scope for household spending, and GDP, to rebound strongly once the restrictions are eventually lifted,” she said.