The latest ICAEW UK Business Confidence Monitor (BCM) suggests that businesses are being more confident about the economic outlook though they are still reluctant to make long-term commitments in a number of areas.
Key findings this quarter
Business confidence moves into positive territory for the first time since Q2 2016, though it is still weak.
Export growth is predicted to strengthen, together with domestic sales − despite an expected squeeze on the consumer.
Input price inflation accelerates. Firms are looking to pass some of this onto customers, while controlling other business costs.
Businesses are not intending to raise the pace of employment and wage growth, or spending on staff development.
Firms are gradually revising up their plans for capital expenditure despite widespread spare capacity, though R&D growth will be more modest.
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