UK recession may not be as bad as feared, says Bank of England economist

Andy Haldane says latest data is a shade better' than forecast but caution remains

• Coronavirus - latest updates
• See all our coronavirus coverage

Britain's economy is on course for a shallower recession than feared after a series of surveys showed business activity has recovered at a modest rate, the Bank of England's chief economist said.

Andy Haldane said recent data was coming in a shade better" than a scenario for the economy published by the Bank this month, but risks remained that the recovery could be slower as companies and consumers remained cautious.

Epidemics of infectious diseases behave in different ways but the 1918 influenza pandemic that killed more than 50 million people is regarded as a key example of a pandemic that occurred in multiple waves, with the latter more severe than the first. It has been replicated - albeit more mildly - in subsequent flu pandemics.