UK companies were worried about outlook even before lockdown: CBI

📆 2020/03/29 13:50:00
📰 Reuters

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British companies in key sectors were already bracing for the biggest hit to business since 2009 even before last week's shutdown of the much of the economy as the government moved to slow the spread of coronavirus, an employers' group said.

FILE PHOTO: People look out onto the Canary Wharf district as they walk through Greenwich Park in London, Britain, March 22, 2020. REUTERS/Simon Dawson/File Photo

Surveys conducted in the first half of March showed consumer services firms, such as restaurants, bars and cinemas, were the most pessimistic, the Confederation of British Industry said on Sunday. The balance for manufacturers stood at -20% while the retail sector’s sales expectations fell to -31%, it said.

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Britain has little to fear, from their outlook: they’ve become the world’s hinge, entrepôt, the new Constantinople — the New Worlds will meet there, in the East End, and bargain.

It's not looking good for anybody.

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