Is the economy primed to bounce back?
That might sound like a strange question when you’ve just had the news that UK GDP fell by 2.9 per cent in one month, but January’s lockdown slump was nowhere near as deep as expected.
It seems that despite a tough lockdown being imposed, shops and big chunks of the economy being shut and schools being closed, the UK has adapted to restrictions better than thought when it comes to doing business.
On this week’s podcast, Georgie Frost, Jayna Rana and Simon Lambert discuss the prospects for recovery and also the businesses that have pivoted and started-up over the lockdown year.
While economies have suffered, stock markets have rebounded strongly – and in the case of the US and its growth star stocks, repeatedly surpassed previous record highs.
That’s been good news for UK investors backing the growth story, particularly the legions of savers with money in the giant Scottish Mortgage investment trust.
But a growth stock wobble in the US has sent Scottish Mortgage sliding – with the trust down 27 per cent at one point on its January peak – followed by a rapid bounce back to erase some of those losses.
Should investors be worried or is it a buying opportunity – and what is the one key investing lesson that Simon says this highlights?
Also on this week’s show, the mortgage that lets you fix for life – bringing potentially a 40-year fixed rate until 2061.
And finally, would you buy your local pub to rescue it from the threat of closure? If the answer’s ‘yes’ then there’s some good news: Rishi Sunak wants to help you.