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 latest Business Confidence Monitor (BCM) for Q3 2023 shows a small decline in business confidence compared with Q2. Sentiment, though, rose during the quarter, possibly due to a growing likelihood that interest rates might be at, or close to, their peak. Confidence overall, however, remains below its pre-pandemic average.
Read more

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.
Read More
Documents

Construction sector exposed as business confidence down

Business confidence in the UK halved in the third quarter as worries over higher interest rates and weakening sales growth bite, a major survey of business leaders published today (Thursday 26 October 2023) has found.
Read more
Mircophones

Nations and regions

Scotland
Scotland

Q3: Business sentiment in Scotland is stable but remains subdued.

Wales
Wales

Q3: Welsh Business Confidence Index plunges into negative territory.

London
London

Q3: Business sentiment enters positive territory in London but remains fragile.

North West
North West

Q3: Business sentiment is strongest in the North West than elsewhere in the UK.

North East
North East

Q3: Business Confidence Index is down but still positive in the North East.

Yorkshire
Yorkshire & Humber

Q3: Business confidence in Yorkshire & Humberside rises into positive territory.

West Midlands
West Midlands

Q3: Business sentiment edges up slightly in the West Midlands.

East Midlands
East Midlands

Q3: Business sentiment is marginally weaker in the East Midlands.

East of England
East of England

Q3: Business Confidence Index dips into negative territory in the East of England.

South West
South West

Q3: Business sentiment slips into negative territory in the South West.

South East
South East

Q3: Business Confidence Index in the South East plunges into negative territory.

Sectors

Construction hat
Construction

Q3: Business Confidence Index plummets back into negative territory.

Wind turbine
Energy, Water & Mining

Q3: Business Confidence Index has fallen slightly but remains positive.

Crane
Manufacturing & Engineering

Q3: Business Confidence Index remains stable.

Crate
Retail & Wholesale

Q3: Business Confidence Index edges back into positive territory.