UK businesses see 'long haul' to recovery - Deloitte survey

According to a survey conducted by accountants Deloitte, nearly half of the Chief Financial Officers (CFP) from large and mostly listed British companies expect a long road to recovery, which is likely to extend at least until the second half of 2021.

Key findings

“Another 33% predicted a recovery in the first half of 2021 and 10% said business had already bounced back.

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.”

Ian Stewart, Deloitte’s chief economist, noted: “Major corporates are expecting a long haul back to pre-COVID levels of revenue. COVID-19 overshadows all other sources of risk for UK CFOs, and by a wide margin.”