British business confidence fell to its lowest since 2022 as the Iran war, which pushed up costs, saps expectations for future sales, a survey of accountants showed on Thursday.
Survey Findings
The Institute of Chartered Accountants in England and Wales said that its quarterly Business Confidence Monitor fell to its lowest since the fourth quarter of 2022 in the three months to June.
According to the survey, the fall in confidence was the joint-longest negative streak since the global financial crisis, reflecting weaker expected sales activity and rising costs pressures.
Input prices rose to 4.1% in the three months to June, the highest since the July-to-September period 2024, and companies said they were struggling to fully pass higher costs on to customers due to weak demand.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
