Market Research Report
Retail Savings and Investments in the United Kingdom (UK) - (COVID-19) Impact Snapshot
|Published by||GlobalData||Product code||945643|
|Published||Content info||21 Pages
Delivery time: 1-2 business days
|Retail Savings and Investments in the United Kingdom (UK) - (COVID-19) Impact Snapshot|
|Published: June 23, 2020||Content info: 21 Pages||
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with key markets across the world losing 20-50% of their value for the year to date. Many economists and institutions have cut their forecasts, with consensus global GDP growth currently at 2.6% for 2020 and experts predicting the onset of recessionary environments.
A similar trend has been seen in the UK, with economic growth in the UK registering a dip in the first quarter of 2020. The UK is among the most highly affected countries, with total confirmed cases of 306,761 at the time of writing and the number still on the rise. With the government now easing the lockdown measures in a phased manner, a gradual recovery in the economy and a rise in consumer spending may be seen. However, controlling the active cases will remain challenging.
This report focuses on the impact of the Coronavirus outbreak on the UK economy and the country's retail savings and investment market. It also highlights the measures adopted by the government to combat COVID-19. Based on our proprietary datasets, the snap shot contrasts GlobalData's pre-COVID-19 forecasts and revised forecasts of total retail bond, deposits, equities and mutual funds holdings in terms of value and growth rates. It also analyses the effects on HNW wealth, examining the importance of different industries as a contributor to HNW wealth.