The housing market is also booming, while hiring and investment among businesses is also picking up, he said.
"A year from now, it is realistic to expect UK growth to be in double-digits, activity to be comfortably above pre-Covid levels and unemployment to be falling," Mr Haldane said.Mr Haldane, who sits on the Bank of England's Monetary Policy Committee, predicted a sharp, V-shaped recovery last year which did not materialise.shrank by 1.5% in the first three months of 2021The reopening of schools and strong retail spending helped the economy grow 2.
However, he warned a rise in inflation levels could turn boom to bust "derailing the country's recovery".He added: "And experience during the 1970s and 1980s demonstrates that, once out of the bottle, the inflation genie is notoriously difficult to get back in."