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ICAEW Business Confidence Monitor (BCM)

One of the largest and most comprehensive quarterly surveys of business conditions and the health of the UK economy.

Full national report, plus regional and sectoral reports available below.

National

Business Confidence Monitor

UK Business Confidence Monitor: National

The latest Business Confidence Monitor (BCM) for Q4 2023 shows a slight shift in sentiment within the quarter. However, the quarter-on-quarter improvement in sentiment is marginal, remaining broadly steady at a similar level over the last few quarters. Overall confidence continues to fall short of the pre-pandemic average.
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About BCM and methodology

Based on a robust methodology and wide coverage, running since 2004, the BCM includes a vast range of indicators and provides an authoritative and authentic voice on the economy and business issues.
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Documents

Business confidence treads water amid customer demand challenges

Business confidence in the UK has risen marginally but remains below pre-pandemic levels as wider economic concerns take their toll, a survey of business leaders published today (Monday 29 January 2024) has found.
Read more
Mircophones

Nations and regions

Scotland
Scotland

Q4: sentiment in Scotland drops below the UK average.

Wales
Wales

Q4: Sentiment in Wales falls for a second consecutive quarter.

London
London

Q4: Business sentiment in London remains steady.

North West
North West

Q4: Business sentiment in the North West slips.

North East
North East

Q4: Business sentiment in the North East rises.

Yorkshire
Yorkshire & Humber

Q4: Business confidence is marginally negative in Yorkshire & Humberside.

West Midlands
West Midlands

Q4: Business confidence edged up and is strongest in the West Midlands.

East Midlands
East Midlands

Q4: Business confidence in the East Midlands holds steady.

East of England
East of England

Q4: Business sentiment improves slightly in the East of England.

South West
South West

Q4: Business confidence in the South West turns positive.

South East
South East

Q4: Business sentiment in the South East remains fragile, but shows some improvement.

Sectors

Construction hat
Construction

Q4: Business Confidence Index improves but remains slightly negative.

Wind turbine
Energy, Water & Mining

Q4: Business Confidence Index slips into negative territory.

Crane
Manufacturing & Engineering

Q4: Business Confidence Index stays positive for Manufacturing & Engineering.

Crate
Retail & Wholesale

Q4: Business Confidence Index dips into negative territory.