UK business executives fear bigger hit to jobs from COVID: BoE

July 2, 2020

LONDON (Reuters) – British business executives last month forecast a bigger hit to jobs from the coronavirus pandemic than previously, according to a Bank of England survey published on Thursday.

Managers in the BoE’s monthly Decision Makers’ Panel forecast an average 11% drop in employment for both the third and fourth quarters of 2020 – up more than a percentage point from the May survey.

The survey of 2,776 chief financial officers was conducted between June 5 and June 19.

(Reporting by Andy Bruce; editing by Michael Holden)