The Office for National Statistics has published ‘Coronavirus, the UK economy and society, faster indicators‘. This is new data and experimental indicators on the UK economy and society, including information related to the coronavirus. Indicators are constructed from rapid response surveys, novel data sources and experimental methods. The data shows that:
- excluding businesses that responded as permanently ceasing trade, 24% of responding businesses reported that they had temporarily closed or paused trading, while 76% were continuing trading.
- 1 in 4 (24%) of surveyed businesses in the UK continuing to trade reported that their turnover had decreased by more than half the normal level, in the period 6 April to 19 April 2020.
- 66% of all responding businesses, whether continuing to trade or pausing trade in the latest wave, applying for Job Retention scheme.
- 24% of all businesses continuing to trade reported that turnover had decreased by more than 50%, while 30% reported that their financial performance had been unaffected.
- The Deferring VAT Payments Scheme was the scheme with the largest percentage of businesses continuing to trade and paused trading reporting they had received this, at 42%