The danger of overdoing the optimism on the economy is greater than the risk of it overheating 9 July 2021 Commenting on the latest GDP figures for May published today (Friday) by the ONS, James Smith, Research Director at the Resolution Foundation, said: “The economy continued to bounce back in May following the deep lockdown freeze at the start of the year. “But with the economy still 3.1 per cent weaker than pre-crisis – a gap larger than at any point during the 90s recession – and more timely measures of economic activity such as footfall and spending suggesting that progress has plateaued in recent weeks, the recovery is far from complete. “The danger of overdoing the optimism on the economy is greater than the risk of it overheating.”
