‘Euphoric’ burst of spending expected off the back a Covid-19 vaccine and lockdown restrictions ending
The economy could be boosted by a ‘euphoric’ burst of spending if a vaccine heralds the end of lockdown restrictions
The economy could be boosted by a ‘euphoric’ burst of spending if a vaccine heralds the end of lockdown restrictions.
The Centre for Economic and Business Research (CEBR) said a Covid-19 jab could embolden savers, who stashed away £20 billion during the first lockdown, to go on a shopping spree.
Its prediction comes after trials of a potential vaccine developed by Pfizer delivered promising early results.
CEBR deputy chairman Douglas McWilliams said the arrival of a vaccine should mean that ‘serious restrictions lasting beyond Easter are unlikely’.
‘CEBR has calculated considerable savings have been built up by consumers that have not yet been spent.
This could finance a strong revival in consumer spending, with a fairly euphoric mood.’