- ECONOMIC IMPACT -

Latest update: 20 January

Jobless rate in the Eurozone declined to 8.3% in November 2020 from 8.4% in the previous month, according to Eurostat.

According to the OECD, the unemployment rate in OECD nations declined marginally to 6.9% in November 2020 from 7.1% in October 2020.

4%

The World Bank forecasts global economic growth at 4% in 2021 as vaccine rollout becomes widespread.

5%

Fitch Ratings revised its economic growth forecast of the UK for 2021 to 5% from its earlier estimate of 4.1%.

Impact of Covid-19 on employment outlook

- SECTOR IMPACT: DRINKS -

Latest update: 3 February

employment impact

900

Coca-Cola Bottlers Japan recently offered voluntary redundancy to 900 of its employees. 

 7%

Heineken plans to reduce its headcount in South Africa by 7%, which it attributes to the coronavirus and the alcohol ban in the nation.

Revenue predictions

GlobalData’s latest forecasts show a decline of 3.8% in consumer products for 2021 compared to baseline predictions, equivalent to $341.5bn in lost revenue.

Key DRINKS developments

Alcoholic drinks will see a 9.6% value decline in 2021 compared with baseline forecasts, though this gap will reduce to -6.7% in 2023. Beer & Cider, Wine, and Spirits will each experience a decline in 2021 compared with baseline forecasts as consumers continue to prioritise staple food and beverage items.


Non-alcoholic drinks will see a 7.8% value decline in 2021 compared with baseline forecasts. Flavoured and packaged water will see most decline compared with baseline 2021 forecasts, while squash and syrups, and fruit powders will see marginal growth versus baseline forecasts linked to increased time spent within the home.

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