UK consumer survey How has Covid-19 impacted personal finances and consumption in the UK?

UBS Evidence Lab asked 1,000 UK consumers how they have been affected by Covid-19. Overall, the responses were negative.

08 May 2020
  • Overall spending has declined since early March amid a weak financial outlook and shortterm employment concerns.
  • The majority of UK consumers expect their financial situation to improve or stay the same in the next 12 months, though two in five expect it to worsen.
  • 30% of consumers expect to face a pay cut or lose their job in the next 2-4 weeks.
  • About half of consumers have no savings or have enough to last for less than 3 months.

Change in Overall Spending Since Early March

Source: UBS Evidence Lab; survey conducted on April 15-20, 2020

Expected Financial Situation in Next 12 Months

Source: UBS Evidence Lab; survey conducted on April 15-20, 2020

Expected Change in Employment in Next 2-4 Weeks

Source: UBS Evidence Lab; survey conducted on April 15-20, 2020

How Long Savings Would Last if Lost Income

Source: UBS Evidence Lab; survey conducted on April 15-20, 2020