Almost half of the chief financial officers at the UK’s biggest companies think demand will not rebound quickly after the pandemic, casting doubt on the V-shaped recovery predicted by a number of prominent economists.

A 20 July survey from Deloitte found that 49% of CFOs believe that demand for their firm’s services will not return to pre-pandemic levels until after the second quarter of 2021. A third estimated recovery in the first half of next year, while 10% said their business had already bounced back. The Big Four firm’s survey of 109 chief financial officers was conducted between 26 June and 8 July.