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U.K. Business Sentiment Plunges With No Snap Recovery in Sight

U.K. business confidence slumped the most on record last quarter as financial leaders said they see no quick recovery from the coronavirus downturn.

On average, the 104 chief financial officers in Deloitte’s quarterly survey said they expect revenues this year to to be more than a fifth lower than previously anticipated. Most said they do not see demand recovering to pre-pandemic levels until after the second quarter of 2021.