-Second quarter UK GDP fell 20.4%, the worst quarterly fall since records began in 1948

-Recovery began in the final month of Q2 with the June estimate showing 8.7% monthly growth

-Retail sales volumes excluding fuels were above pre COVID-19 levels in July

-The CBRE House View is a lopsided V-shaped recovery, a strong bounce-back is anticipated in Q3 2020

-Strong demand in H2 2020 will support demand for labour and minimise the extent of job losses

-Low inflation and a weaker labour market mean the short-term interest rate will remain near zero until 2023

-Lower short-term interest rates should mean lower long-term interest rates