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Business confidence slides to almost two-year low after Budget

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Firms said they expect to come under pressure from rising costs, reduced customer confidence and falling orders.

Confidence among UK businesses has slid to its weakest level for almost two years, according to new figures.

The BDO optimism index fell 5.81 points to 93.49 in November – the weakest reading since January 2023. Firms also said that their output declined in November in the face of weak consumer confidence, indicating a potential contraction in the economy.In October, the report’s employment index showed growth for the first time in 15 months but swung lower again in November in the face of “ongoing challenges” in the labour market.

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