Business confidence rises for the fifth consecutive month

10 May 2023

Optimism amongst UK business leaders over prospects for the UK economy rose for the fifth consecutive month in April, according to a survey conducted by the Institute of Directors (IoD).

The IoD Directors' Economic Confidence Index rose to -5 in April 2023, up from -13 the previous month.

However, the survey also showed that inflation expectations remain high. Only a quarter of respondents said that they believed inflation had already peaked, down from 28% in March.

There was a corresponding slight rise in the proportion of business leaders who thought inflation would either peak in the Summer or Autumn of this year, up from 30% to 33% between March and April.

Kitty Ussher, Chief Economist at the IoD, said: 'Business confidence in the UK economy is much improved compared to the end of last year and continues to strengthen, despite business leaders also expecting high inflation to persist.

'It is particularly reassuring to see a recovery in investment intentions, raising the hope that the economic fundamentals can continue to improve in the months ahead.'

Copyright

© 2024 Michael Letch & Partners LLP. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Contact Us

Please call:
01277 655 626

Quick links

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

Address
Michael Letch & Partners LLP, 146 High Street, Billericay, Essex CM12 9DF

Michael Letch & Partners LLP is a limited liability partnership registered in England and Wales with registration number OC328815.

Michael Letch & Partners LLP is also regulated by the Financial Conduct Authority to carry out specific activities and investment advice (registration number 112064).

The term ‘Partner’ is used to refer to a member of Michael Letch & Partners LLP. A list of members is open to inspection at our registered office at 146 High Street, Billericay, Essex, CM12 9DF.

Michael Letch & Partners LLP is registered as auditors in the United Kingdom by the Association of Chartered Certified Accountants