Business confidence continues to fall following the UK’s vote for Brexit, and is now at its lowest level in over three years. That’s according to the latest Business Trends Report produced by accountancy concern and business advisory specialist BDO LLP.
Business output, reflecting companies’ experience of orders for the three months ahead, now sits slightly lower on the previous month at 98.2, down from 99.0.
At the same time business optimism, which predicts growth six months ahead, has fallen from 98.9 to 97.9. These lie approximately mid-way between the 95.0 mark on the indices, below which lies possible recessionary conditions, and 100.0 which correlates to the UK’s trend growth rate of just over 2%.