The CBI's quarterly gauge of manufacturing optimism in the UK rose to +23 in the first quarter of 2020, its highest level since the second quarter of 2014. Export sentiment and investment intentions also improved, with a record proportion of firms expecting to authorise capital expenditure in order to expand capacity. Still, manufacturers were concerned that a shortage of labour could constrain investment spending over the year ahead. Output volumes continued to contract largely due to a sharp decline in motor vehicles production, and both total new orders and headcounts fell at the quickest rates since the financial crisis amid sluggish domestic demand. However, output and orders are expected to recover slightly in the quarter ahead, while employment is seen declining at slower pace.
Business Confidence in the United Kingdom averaged -3.73 points from 1958 until 2020, reaching an all time high of 55 points in the third quarter of 1959 and a record low of -75 points in the first quarter of 1974. This page provides - United Kingdom Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Confederation of British Industry
Business Confidence in the United Kingdom is expected to be 23.00 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 -14.00 in 12 months time. In the long-term, the United Kingdom Business Confidence is projected to trend around -2.00 points in 2021, according to our econometric models.