We argued two years ago that the pandemic would accelerate changes that were already underway rather than trigger behavioural changes out of the blue. Now that most restrictions have been removed in advanced economies, spending on services and recreation are recovering quickly as we expected. The shift to hybrid working seems set to persist, but there is little evidence that this has affected productivity growth in either direction so far.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.