RE: Economy fully recovered from coronavirus recession after 'very punchy' fightback26 Jun 2021 14:18
LTI,Guess you're right again and the Bank of England wrong,take it up with them.
"Methodology
The Bank has identified regular daily CHAPS payments from merchant acquirers to approximately 100 ‘large’ retail corporates within its transactional data. A large retailer is defined for this purpose as one with a minimum of £5 million card purchase proceeds received through CHAPS in 2020. The large retailers are each mapped to one of 15 different retail sectors (comparable to ONS Consumer Trends series), based on their primary business. These 15 retail sectors have in turn been mapped into four consumption category series (staples, delayable, work-related, social). We have weighted each sector in the series according to its (relative) share of annual UK household consumption in Q4 2019. The mapping of the retail sectors to the four consumption category series, and the weighting into the total spending on credit and debit cards series are shown in Table 1."
https://www.bankofengland.co.uk/payment-and-settlement/chaps-faster-indicator