Financial decision-maker sentiment: UK

McKinsey 06 May 2020 12:00

Almost all financial decision makers in the UK are unsure or pessimistic about the economic recovery post COVID-19, with over half expecting impact to last 6 to 12 months. Additionally, almost all consumers view the current economy as neutral or weak, and 70 percent expect it to be weak in three months. Similarly, half describe their current financial situations as strong, and most expect it to remain the same or worsen in three months. The majority feel banks are performing on par with expectations and would like them to increase the contactless payment limit.

About the author(s)

Nuno Ferreira is an associate partner in McKinsey’s Lisbon office and Gonçalo Niza is a specialist in the Madrid office. Nadya Snezhkova is a specialist, and Ahalya Vijayasrinivasan is a consultant, both in the London office.

The authors would like to thank Harshit Gupta for his contributions to this article.

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