UK risks double-dip recession amid second Covid lockdown

Industry News | 24/11/20

Britain’s businesses are banking on vaccines to deliver them from a double-dip Covid-19 recession, according to the first snapshot of the painful economic impact of England’s four-week lockdown.

Encouraging news from Pfizer, Moderna and AstraZeneca came too late to prevent the tough new restrictions imposed in early November from taking their toll on large chunks of service sector output, according to a survey of the services and manufacturing sectors.

But the monthly purchasing managers’ index from IHS Markit and Cips – the Chartered Institute of Procurement & Supply – also found that companies were more upbeat about their prospects over the next 12 months than at any time since 2015.

Source: The Guardian