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UK-based large businesses observe long road to recovery, Deloitte survey

Monday 20 July 2020 10:41 CET | News

Deloitte has released a survey stating that 49% of the UK’s biggest companies think it will take until the second half of 2021 to recover from the coronavirus pandemic, according to Reuters.

Another 33% predicted a recovery in the first half of 2021 and 10% said business had already bounced back. The survey chimed with other gauges of business sentiment, such as the Bank of England’s Decision Makers’ Panel, which show companies expect a lasting hit from the virus outbreak.

Deloitte said companies were resolutely downbeat about the outlook for jobs, investment, and adding risk to their balance sheet, although less so than in its previous quarterly survey. The economy could shrink by more than 14% in 2020 if there is lasting damage from the coronavirus.

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Keywords: UK, United Kingdom, large businesses, Deloitte, coronavirus, pandemic, Reuters, recovery, Bank of England, Decision Makers’ Panel, jobs, investment, balance sheet, economy
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech