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Business Volumes Forecast to Worsen Across Sectors in Britain: CBI

According to a recent report by CBI, businesses in Britain were already bracing for some form of a slowdown even before the coronavirus pandemic had escalated. Consumer services companies had anticipated business volumes to contract by 47% in the coming quarter, as per a survey conducted in early March.

While retailers expected sales to decline by 31%, manufacturers forecast a 20% reduction in business volumes over the next three months. However, business and professional services companies had expected sales to rise over the coming quarter.

The social distancing and lockdown measures which have been enforced across the country are expected to considerably dent the demand for goods and services among consumers. With the focus on containing the spread of the virus, CBI expects business volumes to only worsen beyond the figures pointed out by the latest survey.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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