The CBI's quarterly gauge of manufacturing optimism in the UK tumbled to -87 in the second quarter of 2020 from +23 in the previous three-month period. That was its lowest level since records began in the 1950s, as manufacturers took a sharp hit during the shutdown in response to COVID-19. Firms in the industry sector expect output and orders to fall at a much faster pace, while employment is seen contracting the most since 1980. Investment spending plans for the next year sank to a survey-record low for buildings and plant & machinery, with record proportions of firms particularly concerned about demand uncertainty and internal finance availability.
Business Confidence in the United Kingdom averaged -4.08 points from 1958 until 2020, reaching an all time high of 55 points in the third quarter of 1959 and a record low of -87 points in the second quarter of 2020. This page provides - United Kingdom Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Confederation of British Industry
Business Confidence in the United Kingdom is expected to be -60.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in the United Kingdom to stand at -12.00 in 12 months time. In the long-term, the United Kingdom Business Confidence is projected to trend around -8.00 points in 2021 and -6.00 points in 2022, according to our econometric models.