The multi-decade low business confidence reading last week, which came out at 21 out of 100 was shocking.
It is the lowest since the 1998 emerging markets crisis, when interest rates hit 25.5%. It was worse than the global financial crisis in 2009 when the economy shrank for three quarters.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.
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