ICAEW / Grant Thornton UK Business Confidence Monitor (BCM)

Quarter three 2010

The latest findings show that confidence among businesses has fallen, and our analysis indicates the economic recovery will slow in the second half of 2010.

Key findings from Q3 2010 report include:

  • Business confidence has weakened significantly as businesses acknowledge the path to recovery contains further challenges, with a fast return to strong growth by no means guaranteed.
  • Turnover and profit growth have returned to positive territory for the first time since the start of 2009, however, expectations for growth over the next year softened from last quarter.
  • Exports continue to expand, with solid growth forecast to continue as weak sterling helps the UK economy to rebalance. Weak sterling is also supporting confidence among UK manufacturers.
  • Only modest price rises are planned by firms. Combined with spare capacity this suggests inflation will cool off.
  • Access to capital continues to ease for all, though is still more of a challenge to private companies than listed companies.

Special reports

More

Further information

For further information on special reports please contact Svetlana Dimitrijevic, Strategic Research

For further information on BCM please contact Ruth Betts, Strategic Research.

Our economists

cebr is recognised as one of the UK's leading independent commentators on economics and business trends. Their forecasts are used by a diverse audience of business people, policy makers and journalists. The long-standing relationship with ICAEW has produced some of the most highly-recognised business research available in the UK.