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ICAEW Business Confidence Monitor

Q1: Business confidence hits two-year high but investment outlook remains weak - quarterly survey of UK business conditions

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 Q1 2024 shows a significant improvement in sentiment compared to weak yet positive confidence in the previous quarter and the average for 2023. The index rose above its pre-pandemic average for the first time since Q1 2022, as economic prospects brightened.
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About BCM and methodology

One of the largest and most comprehensive quarterly surveys, running for 20 years, 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.
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Mircophones

Nations and regions

Scotland
Scotland

Q1: Sentiment in Scotland rises above the UK average.

Wales
Wales

Q1: Confidence rebounds into positive territory.

London
London

Q1: Business sentiment in London continues to improve.

North West
North West

Q1: Business confidence rebounds to highest level for over two years.

North East
North East

Q1: Business confidence highest for over two years.

Yorkshire
Yorkshire & Humber

Q1: Business confidence rebounds and is now the highest in the UK.

West Midlands
West Midlands

Q1: Confidence slips but remains firmly in positive territory.

East Midlands
East Midlands

Q1: Business confidence positive but the weakest in the UK.

East of England
East of England

Q1: Business confidence continues to grow in the East of England.

South West
South West

Q1: Strong sales growth supports growing confidence in the region.

South East
South East

Q1: Business sentiment continues to grow but lags the UK.

Sectors

Construction hat
Construction

Q1: Business Confidence rises to highest level in two and a half years.

Wind turbine
Energy, Water & Mining

Q1: Business Confidence Index climbs out of negative territory.

Crane
Manufacturing & Engineering

Q1: Business Confidence Index stays positive for Manufacturing & Engineering.

Crate
Retail & Wholesale

Q1: Business confidence returns to positive territory.