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COVID-19: Impact on the UK economy

COVID-19: Impact on the UK economy

Chief Economist Yael Selfin introduces the latest UK Economic Outlook report.

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Yael Selfin - Chief Economist at KPMG in the UK.

Chief Economist

KPMG in the UK

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"Timing of a vaccine or effective treatments for COVID-19 could see GDP growth for 2021 vary from just under 1% to just under 5.5 percent.”

How will the UK economy adjust to a new reality post-COVID-19?

As the lockdown slowly eases and we head into a new reality, businesses continue to face uncertainty. Unemployment is expected to rise in the second half of this year as the Job Retention Scheme unwinds. And as the downturn continues to bite, we could see more businesses close.

In our UK Economic Outlook for June 2020, Chief Economist Yael Selfin looks at the current state of the economy and what we can expect over the next two years. The report looks at four possible scenarios for the economy based on different dates for recovery. It provides an insight into the economic outlook by sector and region, as well as the impact of the pandemic on the UK labour market. 

Read the full UK Economic Outlook report for an insight into what lies ahead and what it means for your business plans.

© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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