Where has business confidence gone? It’s at a three-year low

Here are businesses’ biggest fears

Business confidence has fallen back to 2013 levels, according to an index by accountancy and consultancy firm BDO.

There are two big issues which have caused optimism to plummet to the point where businesses are now expecting their output growth to be slower than the long-term trend.

“Global headwinds are finally hitting business confidence and the added uncertainty of the EU referendum just round the corner is fuelling concerns,” said Peter Hemington, a partner at BDO.

The potential for a global crash has been talked about a lot over the past few months, meanwhile, the UK seems to be on a knife-edge about whether it should leave the EU, with the latest polls showing public opinion is almost at 50:50.

Economic growth is predicted to slow in the UK this year – with the Bank of England predicting 2.2% growth in 2016 – the weakest forecast for more than two years.

 

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