CBI: UK Economy Will Not Recover From The Pandemic Before The End of 2022

The Confederation of British Industry (CBI) has warned that the country’s economy is unlikely to return to its pre-COVID-19 scale before the end of 2022 and that unemployment appears to rise sharply in the first half of next year.

The union expected the British economy to contract by a record high of 11.1% this year as a result of the pandemic before growing 6% next year and 5.2% during 2022.

Unemployment is expected to reach a peak of 2.51 million people, or 7.3% of the workforce, in the second quarter of next year after the end of the government aid program.