The impact of Covid: July versus February output
This week’s eagerly anticipated negotiations with the EU created more uncertainty over the UK’s future trading relationships after the UK released its Internal Market Bill, admitting that it would break international laws.
Achieving a trade deal with Japan seems to be a step in the right direction, but comes with significant criticisms.
Alongside trade news, data on increasing Covid-19 cases was central to the week’s challenges with new restrictions on group sizes introduced along with a number of new local lockdowns.
However, the economy continued to regain some of the lost output in the first half of the year, with analysts saying that the UK was on track for a “Nike swoosh” recovery.