Forecasters say the economy might not bounce back to its pre-coronavirus size until 2024.
There had been a V-shaped"bounceback", he said, referring toHowever, other economists have expressed doubts about the potential for such a swift recovery in activity.
"Even though lockdown restrictions are easing, consumer caution has been much more pronounced than expected," said Howard Archer, chief economic adviser to the EY Item Club. "We believe that consumer confidence is one of three key factors likely to weigh on the UK economy over the rest of the year, alongside the impact of rising unemployment and low levels of business investment.
"The UK economy may be past its low point but it is looking increasingly likely that the climb back is going to be a lot longer than expected."
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