For some people the pandemic was very traumatic and resulted in a severe loss of income (eg. worst case scenario, a theatrical performer) but for other people, (eg. tech workers) they experienced the opposite, an increased demand for their services alongside a reduction in their costs (nil commute). The latter was the greater amount of people and so you had a lot of people with increased disposable income, alongside ultra low interest rates, and that caused the economy to surge as people spent money, took on debt and acquired assets.

Covid cheques which in some countries only went to persons in the former niche category I think had less remarkable impact than the broader factors.