Nothing lifts the spirits more than a good celebration, as long as it is not in Number 10 or a Durham beer hall. The Platinum Jubilee break, the longest spring bank holiday in living memory, should do that. As confidence is the lifeblood of the economy, all of this spending should be for the national good – a sort of Christmas in June. Economists consulted by Bloomberg estimate that each extra day of holiday will knock a half-point off the nation's output in the second quarter. Hopefully lost production will be recovered in subsequent months and the UK can escape the misery of two quarters of falling output, widely defined as recession.

Source: Daily Mail June 03, 2022 01:43 UTC