Unprecedented
By David Dungay
THE UK IS offi cially in recession
after suffering its biggest
slump on record (-20.4%
between April and June) after
two consecutive quarters
of decline. Chancellor Rishi
Sunak’s commented the
consequences of the recession
are “unprecedented”.
Is it all doom and gloom? Far
from it. On a month by month
basis the economy grew by 1.8%
in May and 8.7% in June. As the
restrictions start easing further
we could see other parts of the
economy open for business.
All eyes are on the
government as the recovery
starts to kick in but as I look
around the Channel there
seems to be signs of life. One
vendor recently told me that
his partners are starting to see
‘grass shoots’ come through
Pre & Post EU Referendum Vote
KEY CHANNEL INDICATORS
Indicator 23 Jun 16 19 Aug 20 Change Change %
FTSE 100 6,338 6,101.93 236.07 -3.72%
FTSE 250 17,333 17,580.69 247.69 +1.43%
BT 439.70 105.57 334.13 -76.00%
Vodafone 217.90 118.03 99.87 -45.83%
TalkTalk 226.60 78.45 148.15 -65.38%
Gamma 440.50 1,670.65 1230.15 279.27%
£/$ 1.487 1.32 0.167 -11.23%
£/€ 1.307 1.11 0.197 -15.07%
www.commsbusiness.co.uk
as businesses realise they
need to get on with things and
concentrate on transitioning the
business, if needed, or targeting
new potential customers.
October will be telling for the
market as the Furlough Scheme
comes to an end. We are likely
to see further redundancies as
businesses fi ght to stay alive.
The agile partners in the market
will undoubtedly look to furnish
the surviving businesses with
the tools they need, and don’t
forget the new swathe of start
ups we will inevitably see too.
Second waves aside, there
are signs of recovery. As has
been the case for most of this
year, Gamma’s share price
seems to be the only price we
track which has grown during
this period outside of the large
conferencing vendors.
A billing
platform that
really cuts
the mustard
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provisioning solutions are
software with bite. And our
appetite for innovation is
never sated.
We invest millions each year to
continually enhance our products
and improve our customer service
for one reason; to put your business
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Isn’t that scrumptious?
unionstreet.co.uk
CITY TALK
/www.commsbusiness.co.uk
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