A pause on investment and hiring decisions in the run-up to the EU Referendum has left the UK economy “on hold”. That’s according to the latest Business Trends Report issued by accountancy and business advisory firm BDO LLP.
This month’s Business Trends Report reveals that the uncertainty ahead of the decision about our EU membership has “cast a shadow” over the UK’s economy, leaving business investment weak and growth expectations among UK corporates falling for the tenth month in a row.
BDO’s Output Index – which reflects companies’ experience of orders on hand – now sits at 99.7. This is the first time since 2013 that it has fallen below the 100 level that indicates UK long-term trend growth at about 2%.