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UK business confidence lowest since COVID pandemic, IoD says

The UK's business confidence has plummeted to its lowest level since the Covid-19 pandemic, according to a survey by the Institute of Directors (IoD) released on December 1, 2024. The IoD's economic confidence index dropped to -34 in November from -25 in October, reflecting heightened concerns among business leaders about the economic outlook. This decline is attributed to ongoing economic challenges, including high inflation, rising interest rates, and geopolitical uncertainties. The survey also highlighted a significant drop in optimism regarding the domestic economy, with only 27% of directors expecting an improvement in the next 12 months, down from 35% the previous month. Additionally, the report noted a decrease in business activity, with fewer firms planning to invest or expand, signaling a cautious approach to future growth amidst the prevailing economic conditions.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/uk/uk-business-confidence-lowest-since-covid-pandemic-iod-says-2024-12-01/ ]