News - London

LMI Update May 2020

Joanne Ray 0 120

Office for National Statistics have released their first set of GDP figures for Q1 2020, which show that, with the arrival of the pandemic nearly every aspect of the economy was hit in March, dragging growth to a record monthly fall.

The latest from Office for National Statistics - Economic Impacts

Joanne Ray 0 125

The preliminary results from Wave 3 of the Business Impact of Coronavirus (COVID-19) Survey (BICS) of UK businesses which shows:

  • 1 in 4 (24%) of surveyed businesses continuing to trade reported that their turnover had decreased by more than half the normal level, in the period 6 April to 19 April 2020.

  • The Coronavirus Job Retention Scheme was the most popular government scheme applied for, with 66% of all responding businesses, whether continuing to trade or pausing trade in the latest wave, applying.