He added: “As the lockdown eases, it will be interesting to see just how the consumer appetite for spending returns in a world of socially-distanced shopping and the seismic shift to online retailing.”
Earlier this week data showed the UK's services sector had suffered a severe downturn in May.
The services sector - which includes the pub and restaurant industries - has been battling the economic consequences of the coronavirus pandemic and lockdown.
As a result the closely watched UK services PMI survey came in at 29 for May, firmly in contraction territory.
A PMI reading below 50 represents a contracting market, with anything over 50 indicating a growing market economy.
A major issue has been the severe lack of new business to replace work that had been completed after the lockdown, following deep cutbacks to corporate spending in response to COVID-19.
