The net balance of UK firms forecasting higher levels of business activity in the next year has fallen to 28%, the lowest figure since October 2009, according to IHS Markit's data. This litmus test of corporate confidence demonstrates that many businesses are pessimistic over Brexit. Service providers warned that tough conditions in the labour market and higher costs for businesses Business surveys have shown a sharp fall in optimism about future trade with Europe and an increase in pessimism about trade. Nine out of 10 UK manufacturers and 67% of service companies have commissioned an investigation into the impact of Brexit on their businesses.
The net balance of UK firms forecasting higher levels of business activity in the next year has fallen to 28%, the lowest figure since October 2009, according to IHS Markit's data. This litmus test of corporate confidence demonstrates that many businesses are pessimistic over Brexit. Business surveys have shown a sharp fall in optimism about future trade with Europe and an increase in pessimism about trade. Nine out of 10 UK manufacturers and 67% of service companies have commissioned an investigation into the impact of Brexit on their businesses.