Business confidence fell to its lowest level in more than year last month amid growing fears that inflation poses a long-term threat to company sales.
Confidence among companies is now at levels last seen in April 2021, when coronavirus restrictions were beginning to relax, according to the index by BDO, the accounting and business advisory firm. It takes a weighted average of the UK’s main business surveys, covering responses from about 4,000 companies.
The cost-of-living crisis has been compounded by soaring inflation and disruption to supply chains, partly because of lockdown restrictions hampering activity at the world’s biggest port in China.
BDO’s optimism index fell for a second consecutive month in May, dropping by 4.82 points to 101.93. The 100 mark separates expectations for long-term
