Update: April 2020 – A Market Overview

Equity markets see partial recovery despite the continued prevalence of COVID-19; Clear slumps in activity, particularly in the retail and industrial sectors, point to an increasing likelihood that economies will take an unprecedented hit; Increased uncertainty has led the Office for Budget Responsibility to forecast a 35% drop in UK GDP in Q2, before a recovery later in the year; Retail has been the hardest hit sector, with only 57% of tenants in the UK paying rent on time in Q1; A slow-down in occupier demand can be observed across all sectors as activities are paused, causing likely downward pressure on rents in 2020.