The latest ICAEW UK Business Confidence Monitor (BCM) reveals that although uncertainty has been reflected by low confidence, businesses are getting on with the job at hand and seeking to position themselves within a new post-Brexit landscape.
Key findings this quarter
Business confidence remains subdued and in negative territory at -8.7, compared to - 9.8 in Q4 2016.
Companies forecast stronger growth in both domestic and export sales than in recent quarters.
With input costs accelerating, companies expect to pass some of these increases on to their customers.
To help profit growth, businesses are to moderate their wage and employment growth.
Reflecting their weak confidence, businesses are to keep tight control on capital investment and R&D.
Retail and Wholesalers’ confidence has taken a further hit, after a difficult festive period for many.
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