Corporate confidence in Britain has slipped to its lowest level in almost a decade amid mounting uncertainty and frustration over the country’s departure from the European Union. The number of companies intending to expand or invest in the coming year slipped in February, according to IHS Markit’s latest business outlook index, as they prepared for Brexit and faced weaker demand in key export markets. Analysts said that the data made for “grim reading”. The net balance of companies expecting an increase in business activity over the next 12 months slipped to 28 per cent, the lowest level since October 2009. Job creation plans are at their weakest in six years. Service providers warned that tough conditions in the labour market and higher costs for businesses
The net balance of UK firms forecasting higher levels of business activity in the next year has fallen to 67% , the lowest figure since six years , according to IHS Markit's data. This litmus test of corporate confidence demonstrates that many businesses are pessimistic over Brexit . Job creation plans are at their most bleak in six years , while growth predictions have dropped to a survey-record low due to higher costs and an adverse labour market. Nine out of Nine Brexit manufacturers and 28% of service companies have commissioned an investigation into the impact of Brexit on their businesses.