More attention is turning toward a post-pandemic world where business investment is expected to play a key role in the recovery of the economy, particularly in the ways it will reshape and adapt in the medium to long term. Peter Arnold, from Criticaleye’s NED Partner EY, introduces the latest EY ITEM Club Report, which covers UK business investment.
The key takeaways include:
The supposedly ‘underinvesting UK’ enjoyed a much larger rise in output of 37.7 percent, ranking third in the G7 after the US (where output grew by 45.4 percent) and Canada (with a rise of 45.2 percent).
Damage caused by the crisis was far from equal across sectors or companies. For example, as of late May 2021, 64 percent of firms in the arts, entertainment and recreation sector and 63 percent of businesses in the hospitality sector reported a fall in turnover relative to normal times.