BOE's Haldane: UK household spending has been 'remarkably resilient'
Comments by BOE chief economist, Andy Haldane
- There is an open question on whether voluntary or involuntary social distancing is holding back spending
- Second virus wave in the US had little impact on total spending, may have implications for what to expect in the UK
A bit more of an upbeat tone by Haldane, but this is very much just a presumption. As much as household spending has held up amid the virus crisis, the record drop in consumer credit suggests that the UK economy is not even close to firing on all cylinders: