ROUND ONE TO EIGHTEEN
Top Insights
Impact on Income: The severity of the impact on households’ income decreased in the past round from the peak we saw in round 10. While in round 10 almost three-fourths of customers reported a ‘very much’ decreased income, by round 18, this proportion decreased to 58%. Customers who experienced ‘slightly decreased’ income increased slightly to three in ten.
Impact on Business: Closures due to COVID-19 have steadily declined since round 1. In August 2020, two-thirds of businesses reported being affected by closures, while in May 2021, this declined to 4%. However, fewer customers have been reported by two-thirds GEEP clients in April, increasing from a low of 50% in early January.
Coping Mechanisms: Respondents have been employing the same three main coping mechanisms since the start of data collection, namely, using their savings, reducing investments, or borrowing, with the usage of savings remaining higher than 90% since late November and reaching almost 100% in round 18. Those who reduced household or business investments also recently peaked to a high of 56%. Borrowing has remained at similar levels since the beginning of data collection.