The outlook for demand, employment and investment has weakened across all sectors according to a new report
Business confidence has been dragged to a four-year low amid rising concerns over economic uncertainty and a slowdown in demand following the EU referendum result.
Expectations that sales, orders and profits will grow over the next six months slipped to 12 per cent, down from 38 per cent in January, according to Lloyds Bank’s Business in Britain report.
Business confidence has been dragged to a four-year low amid rising concerns over economic uncertainty and a slowdown in demand following the EU referendum result.
Expectations that sales, orders and profits will grow over the next six months slipped to 12 per cent, down from 38 per cent in January, according to Lloyds Bank’s Business in Britain report.
The plunge in the value of the pound to 31-year lows following Britain’s vote to leave the EU has made UK goods more competitive on the global market, helping exports to grow.
Employment also remained under pressure, with the number of firms expecting to recruit more staff over the next six months dropping for the fourth consecutive survey.
The study said the net balance of companies looking to increase their headcount over the period fell by 14 points to minus 1 per cent, while those looking to up their capital expenditure was down 14 per cent to zero.
Source: The Independent