Howard Davies Says Next Part of V-Shape Recovery May Flatten Out

The video discusses the current economic recession, highlighting difficulties in gauging its depth and persistence. It examines spending patterns, noting recovery in consumer durables but stagnation in social expenditure. The discussion suggests a V-shaped recovery, with potential flattening due to social and psychological factors affecting consumer confidence.

What is the significance of the 'V-shaped recovery' mentioned in the text?

What does the speaker suggest about the future of consumer confidence?