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UK economy will recover quickly amid vaccine roll-out


 Significance
 The fall highlights the economic impact of the second lockdown; the third, from mid-December, will cause GDP to fall in the first quarter of 2021. The accommodation and food services sector, and some parts of the retail sector, will be hardest hit. 
 
 
 Impacts
 The regionally disjointed recovery and fiscal pressures will make it harder for the government to pursue its ‘levelling up’ agenda. 
 Post-COVID-19 behaviour will help adjust the balance between towns and cities but the pandemic will also weaken the sectors towns rely on. 
 The central bank's review of negative interest-rates confirms that it is reluctant to cut rates but will do so if the downturn deepens. 
