UK business confidence falls to 19-month low in Mini Budget aftermath

Overall confidence fell to 15%

Confidence among UK business fell to a 19-month low in October in the aftermath of the Mini Budget, which spooked the markets and sent the pound to a record low against the dollar.

According to the Lloyds Bank business barometer, overall confidence fell by one percentage point to 15%, hitting the lowest level since March 2021. Over a third (39%) of respondents to the survey expressed pessimism about the state of the economy, up from 36%. This is the sixth consecutive month that optimism has decreased. Although it remained above the lowest level of  minus 33% recorded in May 2020 during the first Covid-19 wave, business confidence was still below the long-term average of 28%. UK could face pensions crisis warns new financial inclusion index Meanwhile, 46% r...