Deloitte survey on big UK firms casts doubt on speed of economic recovery

  • 49% expect business to return to pre-pandemic levels in 2H 2021
  • 33% expect a recovery within 1H 2021
  • Only 10% said that business had already bounced back

For some context, the Deloitte survey is a gauge of business sentiment, drawing feedback from CFOs of large and mostly listed companies (109 firms) in the UK.

The survey also found that companies were resolutely downbeat on the outlook for jobs and investment, though less so than its previous quarterly survey i.e. start of the pandemic.

If anything, the takeaway here is that any possibility of a V-shaped recovery isn't likely to materialise. However, that is a narrative that we are slowly getting used to by now considering recent data and how tepid the economic rebound has been globally.