Optimism drained away from Britain's financial sector in March as the coronavirus outbreak escalated, an industry survey showed on Tuesday.
FILE PHOTO: General view of the Canary Wharf financial district, as the spread of the coronavirus disease continues, London, Britain, April 6, 2020. REUTERS/Matthew Childs
The Confederation of British Industry said financial firms expected demand, profitability and employment to decline sharply in the coming months. “The bulk of the survey took place before social distancing measures were ramped up, but there were already signs of the Covid-19 pandemic leaving its mark,” Rain Newton-Smith, CBI chief economist, said.
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