Covid, personal finances, and policy: evidence from bank account data

The geographic impact of the pandemic on household spending

Institute for Fiscal Studies - December 2020

This report is based on real-time monitoring of personal finances through the coronavirus pandemic by the Institute for Fiscal Studies. It found during the first national lockdown, spending plunged by around a third. But from October to November (the second English lockdown), spending in England increased by about 2%. While that's considerably weaker than the 10% growth seen in Scotland over the same period, authors note that clearly the effects of the second lockdown were far smaller.

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