“Business confidence rallied in Q4 2015, but it’s down for the year overall” reports Chartered Institute of Credit Management
The latest quarterly barometer measuring the outlook for growth and nationwide levels of business confidence has rallied after a disappointing 7.1% drop in Q3 2015. Q4 2015 of the Chartered Institute of Credit Management’s (CICM) UK Credit Managers Index (CMI) reports growth in both the manufacturing and services sectors, with the results finishing a 12-month period that saw the CMI reach two record highs in the first half of the year.
However, at year-end the barometer measured only 58.0, equating to a year-on-year fall of some 0.83 points, and finishing 0.8 points lower than the average for 2015.
With national and international stock markets falling, oil prices hitting rock bottom and further talk of interest rate rises, the second half of the year witnessed business confidence tapering, but a small year-end increase in the CMI ensures that a downward trend isn’t being established.