Economic turmoil crushes business confidence

As the final quarter of the year approaches, the economic outlook remains fragile with declining business confidence and ongoing fears of a double-dip recession.

ICAEW and Grant Thornton’s latest Business Confidence Monitor (BCM) shows a steep decline in confidence as economic turmoil impacts on businesses’ plans for the future.

In the third quarter the BCM confidence index fell from +13.7 to +8.1 and is now at its lowest level since Q3 2009 when the country was still in recession.

In the past week in particular, AccountingWEB has also seen a flurry of interest in economic issues, highlighting a reinforced north-south divide and growing concern over double-dipping.

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