Nearly half of Britain's biggest companies think it will take until the second half of 2021 before business recovers from the coronavirus pandemic, according to a survey on Monday that cast doubt on hopes for a speedier rebound.
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 that has killed more than 45,000 people in the United Kingdom. A Bank of England scenario published in May showed the economy regaining its pre-pandemic size by the second half of next year, but evidence for the kind of"V"-shaped recovery that would be needed is patchy.