Covid-19 leads to sharp drop in business activity across the UK
The latest Purchasing Managers’ Index surveys from the UK.
The outbreak of coronavirus (Covid-19) and associated public health measures to contain the disease severely disrupted business activity across all areas of the UK in March, the latest Royal Bank of Scotland Regional PMI data showed. There were widespread job losses as firms scaled back operations amid efforts to realign capacity with demand and reduce costs.
All 12 regions monitored by the survey recorded a decrease in employment in March, though Scotland and the West Midlands saw the deepest cuts to payroll numbers.
Meanwhile containment measures, lower market confidence and business closures all contributed to a broad-based drop in demand for goods and services.
To read the full report, click the link here.