© Reuters. A shopper walks on Oxford Street in London


By Andy Bruce

LONDON (Reuters) – British companies saw a slightly worsening hit to sales and jobs from the COVID-19 pandemic last month when the virus spread increasingly through the population, a Bank of England survey showed on Thursday.

Companies said the pandemic cut 16.1% on average from sales during the fourth quarter, the BoE said, more than the 15.3% hit pencilled in from November’s survey. They also saw a bigger hit to jobs.

The worsening conditions came last month despite positive news on COVID-19 vaccines and a relaxation of health restrictions in many parts of England.

On Wednesday the United Kingdom recorded more than 1,000 COVID-19 daily deaths for the first time since April as the government struggles to deal with a new, more infectious variant of the coronavirus.

Like previous editions, the latest BoE survey showed hospitality businesses have been hit especially hard by the pandemic.

Food and accommodation businesses thought the hit to jobs and sales from the pandemic would persist into at least 2022.

The BoE survey was conducted between Dec. 4 and Dec. 18 and was based on responses from 2,933 firms.


Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Top US spy agency says coronavirus was 'not manmade or genetically modified'

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here