Midsummer, and the newspapers report that the UK entered its worst recession ever, according to the Office of National Statistics (ONS).
Of course the ONS figures are backward looking at the effects of the lockdown in March, April and May, with a 20.4 percent collapse in GDP.
But already the curve is heading upward, making the V-shape that many were hoping for.
The recession has ended as quickly as it began! Strange times indeed, but also fascinating times for economists.
Those striking red line graphs where the line plunges off the page are now a common sight, where once they were next to unimaginable.
We can expect that come the autumn there will be a tidal wave of unemployment to accompany the end of furlough schemes and the like in GB. The post-Covid economic landscape is beginning to hove into view.
