Friday, January 24, 2020

Business confidence nudged pre-Brexit levels last month


Business confidence recovered slightly last month, but is still struggling to reach pre-Brexit levels.

Latest figures from YouGov and the Centre of Economics and Business Research (Cebr) have revealed that sentiment rose two points last month reaching 111.1, below the pre-referendum 112.6.

The main increase on the business confidence index was optimism in the UK economy, rising seven points to 40 per cent, with pessimism declining by the same amount to 38 per cent.

Companies also reportedly felt better about their own prospects for 2017, with pessimism down three per cent to 21 per cent.

READ MORE: Strong retail growth over November but warning signs begin to show

“To date, businesses are proving quite resilient in the face of what has proved to be an economically and politically tumultuous six months for the UK,” Cebr director Scott Corfe said.

“Although many forecasts believe growth will slow next year, organisations themselves have a relatively bright outlook and are prepared to invest over the coming 12 months.”

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