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U.K. Business Confidence Hits Record Low
Confidence among British businesses fell last month despite improvements in the labor market, according to London-based accounting and consulting firm BDO LLP.
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Confidence among British businesses fell last month despite improvements in the labor market, according to London-based accounting and consulting firm BDO LLP.
BDO's Optimism Index, which measures sentiment about the U.K. economy and business performance over the next six months, slid to 88.9 last month from 90.3 in December.
January marked the eighth consecutive month that the index has remained below 95, the level that signals economic growth. Last month's reading was the lowest since the survey was launched in 1992.
BDO opines that the country's stagnating economy has made companies reluctant to invest in expansion.
The firm's measure of output also declined in January. But gauges of employment and manufacturing improved.
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