The economy is a long way from recovery, according to the three largest supply chain insurers.

The gloomy prognosis from Euler Hermes, Atradius and Coface – which provide vital insurance for retailers and manufacturers against the risk that they will not get paid for their goods or services – will douse expectations of an imminent uplift. The views of the three are significant because their work requires them to examine the financial health of a wide range of UK businesses.