Battered by the pandemic, London’s retailers and businesses are set for a strong recovery this summer as the UK economy expands at record pace.
New forecasts show that the UK economy as a whole will expand by more than 7%, the fastest since records began in 1949. The economic expansion, and rapid recovery thanks to Britain’s successful vaccination rollout, is helping to restore confidence. With households in the UK having saved billions during the past year, shops could be in for a strong rebound.
Having announced an “irreversible” unlocking of the economy, Prime Minister Boris Johnson’s approval continued to rise ahead of today’s important local elections and London’s Mayoral contest.
For Londoners, the news is good as services are expanding and business confidence soars – leading to more investment.
With the UK reaching new lows in pandemic infections, there’s good news for clothing stores, restaurants and leisure facilities in the capital as tourists are set to return and foot traffic increases.