Directors’ Economic Confidence Index slid to a new low in May

The May 2022 Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, slid to its lowest level since October 2020 of -45, down from -36 in April.
Of those that said they were pessimistic about the prospects for the UK economy, the overwhelmingly most frequent reason given for this pessimism was the UK rate of inflation (41%), followed by difficulties in the UK’s trading relationship with the EU (20%).

However, the index of confidence in business leaders’ prospects for their own organisations remained relatively high at +30 in May, down slightly from +32 in April.

Read More