The U.K. economy will likely be smaller at the end of 2021 than it was before plunging into a record recession this year, according to a Bloomberg survey that casts fresh doubt over Bank of England projections. Calculations based on the median estimate of economists polled this month show gross domestic product is set to be around 5% below its pre-pandemic level. The central bank sees output fully recovering by the same point. The contrast highlights the risk that policy makers are underestimating the extent of the damage that the coronavirus will inflict on the economy in the long run. The U.K. is already rebounding ... (full story)