Britain’s economic recovery from the shock of the COVID-19 pandemic has gathered pace, data showed on Friday, but government borrowing rose past the 2 trillion pound ($2.64 trillion) mark and fears of future job losses are mounting. Retail sales rose above pre-pandemic levels in July and August’s Purchasing Managers’ Index data showed the fastest growth in almost seven years, beating economists’ expectations in both cases. But Britain’s economy still faces a long recovery after shrinking by a record 20% in the second quarter, the largest decline of any big country, and businesses are shedding jobs, raising questions over how long consumers will continue their spending spree. “This uptick in retail consumption may help ease concerns over the fragility of the UK economy — but not for long,” said Alistair McQueen, head of savings and retirement at insurance company Aviva. Britain entered lockdown in late March and […]