ICAEW.com works better with JavaScript enabled.

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 Q1 Business Confidence Monitor (BCM) shows business confidence recovering back into positive territory, but still very weak, as companies are concerned over their future sales with continued high inflation and interest rates. There are also worries over how tight government fiscal policy will need to be, in the months and years ahead.
Read more

Documents
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.

Mircophones
Press Release

Our latest BCM press release including quotes from ICAEW’s CEO and Director of Economies.

Nations and regions

Scotland
Scotland

Q1: Business sentiment has improved, but remains very weak.

Wales
Wales

Q1: Welsh Business Confidence Index enters positive territory, but only marginally.

London
London

Q1: Business Confidence Index remains in negative territory.

North West
North West

Q1: Business confidence improves, but is still very low.

North East
North East

Q1: Business confidence slips further into negative territory.

Yorkshire
Yorkshire & Humber

Q1: The Business Confidence Index recovers strongly in Q1 2023.

West Midlands
West Midlands

Q1: Business Confidence Index is now positive, but only marginally.

East Midlands
East Midlands

Q1: Business confidence positive for first time in a year but still weak.

East of England
East of England

Q1: Business Confidence Index returns to positive territory.

South West
South West

Q1: Business confidence is back on a positive footing, but only marginally.

South East
South East

Q1: Business Confidence Index picks up in the South East, but remains low.

Sectors

Construction hat
Construction

Q1: The Business Confidence Index remains the weakest across all sectors.

Wind turbine
Energy, Water & Mining

Q1: Business Confidence Index recovers strongly in Q1 2023.

Crane
Manufacturing & Engineering

Q1: Business confidence improves as input cost pressures set to ease.

Crate
Retail & Wholesale

Q1: Business confidence turns positive, but only marginally due to range of challenges.