The impact of the global pandemic caused UK business output to fall to its lowest level on record in 2020, despite a raft of support measures taken by the chancellor throughout the year, according to the latest Business Trends report from accountancy and business advisory firm BDO.
The BDO Output Index, which provides the most comprehensive snapshot of business output by weighting macroeconomic data from the UK’s main business surveys, averaged 73.62 in 2020. This figure is significantly lower than any other year since the index began in January 2005. Previously, the lowest annual average had been 83.28, which was recorded during the Great Recession in 2009.
Despite the end of the second national
link source - East Midlands Business Link General