The main story this week has been more economic news, and not so great really.
The UK economy has shrunk by 20%. It’s the biggest contraction ever, making for some stunning graphs. This one here showing the depth of the downturn in stark terms vs what we have seen historically, it is quite something (click image for original article)
And the UK has also been projected to have some of the worst impact overall, with or without a secondary peak.
All of this is adding up to a tough time for the UK economy, and some of this fallout is now being seen, with significant job losses starting to be announced.
This is expected to have knock-on impacts in the house prices market, and indeed other associated markets such as vehicles. could also be impacted if dealers as an industry don’t hold their nerve….. and a valuation reduction, will impact profitability and potentially even some business models for companies making secured loans. This is one to watch.
On the digitalization front this continues (more to be written on another time). However, have been trialing a new video format. The first one is up, with an interesting chat I had on Robotic Process Automation, link here.
Have a good weekend everyone… @chris_w_tweet