UK business confidence lowest since 2012 as output drops
UK business output growth declined for the first time in 2019 last month as the boost from Brexit stockpiling faded, according to the latest business trends survey from international accountancy firm BDO.
Following a dramatic fall in March of 3.69 points, BDO’s business optimism index fell further in April by 0.26 points to 95.74 – close to negative territory, which is marked by a score of below 95.
BDO said the low reading suggests the extension of Brexit until 31 October “is likely to have the effect of holding business confidence at multi-year lows, rather than delivering a notable boost to sentiment”.
The firm’s output index fell by 0.11 points to 98.63 in April, showing a slowdown in production in the economy. Declines in both the services and manufacturing sectors drove the index’s fall. ■