The UK’s economic recovery comes to a sudden stop in September
The Opinium-Cebr Business Distress Tracker checks the pulse of the UK business community on a fortnightly basis, as firms across the country grapple with the unprecedented challenges brought about by the coronavirus crisis.
The latest results showed that the UK’s economic recovery stalled in September, with businesses reporting that profits were down 21% – unchanged from a month earlier. Other topline results include:
- Business sentiment has deteriorated significantly over the past four weeks, as the spectre of renewed lockdown restrictions looms over the economy.
- Conditions deteriorated significantly for the hospitality sector following the end of the Eat Out to Help Out scheme in August.
- Businesses are expecting to lay-off more than a third (35%) of furloughed workers after the scheme expires at the end of October.
Read the full report here: