Businesses are feeling less confident about the future – and it’s the rest of the world’s fault

UK business confidence has fallen from its record high in July, due to fears about global growth.

The Business in Britain report from Lloyds Bank, which comes out twice a year, found confidence among the 1,500 British businesses it surveyed has dropped by nine points, to 42%.

Lloyds said the fall was partly driven by decreases in firms’ expectations of sales and orders over the next six months – reflecting a more cautious outlook for 2015.

One in 10 businesses said they expected their exports to drop this year because of reduced demand in Europe, with only 36% of businesses expecting to increase exports.

Paul Evans, area director for SME Banking in London, Lloyds Bank Commercial Banking, said: “Although business confidence has slipped back, it is important to remember that the UK recovery remains on track.

“London companies should continue to think about their priorities and how they can best grow their businesses as we start the New Year.”

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