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UK Quarterly Industry Report Quarter 2 2019

September 17, 2019 | Payments
UK Quarterly Industry Report Quarter 2 2019

Read the latest UK industry report. This includes an analysis of the UK and Global economic outlook with a review of payment performance and corporate liquidations by region, industry sector and over time.

Download our full UK Industry report below for additional insights on the UK economic outlook, a deep dive on trends in corporate liquidations and payments performance, as well as recommendations from our expert economist team.

Summary:

The UK country risk rating is maintained at DB2d. However, it is important to note that this would be downgraded in the event of a no-deal Brexit.

The retail sector remains challenging despite positive labour market conditions.

Dun & Bradstreet expects real GDP to grow by 1.3% this year and 1.4% in 2020, assuming a no-deal Brexit is avoided – should this not be the case, the UK would almost certainly enter a recession.

We are currently forecasting global real GDP growth of 2.5% in 2019, down from 2.9% in 2018.

A surprising statistic is that prompt payments improved in the three months to March before another increase occurred in June. Late payments however, remain a major problem for UK-based small and medium-sized enterprises (SMEs). In mid-July, the Chartered Institute of Credit Management suspended 18 companies from the Prompt Payment Code as these businesses (which included BT, British American Tobacco, Prudential and Centrica) failed to pay 95% of their supplier invoices within 60 days.

In April-June, Dun & Bradstreet recorded 4,115 corporate liquidations, up by a marginal 0.2% q/q but down by 0.8% y/y.

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