Monday, 11 February 2013

Business confidence at 21-year low

Business confidence has hit a new low, according to a report on the BBC ( based on a survey by accountancy firm BDO. Confidence was at its lowest for 21 years, the survey said, based as it is on optimism in business performance and the economy over the next six months.

This is in spite of improving labour market figures and a stock market that peaked recently at well over 6,300.

It seems that the survey's responses reflect the continuing lack of growth in the UK economy and any signs that it has turned the corner.

While a triple-dip recession remains a possibility, the survey's employment index was up in January, as was optimism within the manufacturing sector.

As a business owner, I have seen a fall in enquiries as a reluctance to spend money persists. With that trend, the spiral is downward until people and businesses decide to spend again. It appears that upward turn is still some way off.