Business confidence fell to a three-month low this month, according to the latest Lloyds Banking Group business barometer.
The survey, which was conducted between September 2 and September 16, found that confidence fell by 3 percentage points to 47%.
The dip in confidence came after an optimistic period for businesses, with the tracker reaching 50%, its highest level since November 2015, in July and August.
It also coincided with a drop in economic optimism which fell to 38%, its lowest level since March.
Hann-Ju Ho, a senior economist at Lloyds Bank commercial banking, said: “The more mixed picture for economic optimism points to some businesses maintaining a degree of caution. While we still expect economic expansion, it may occur at a slower rate than the first half of 2024.”
There have been concerns that gloomy messaging from Labour about the public finances, as well as a lack of clarity of expected reforms to workers’ rights, had been affecting confidence.
Click here to read more in The Times.
FTSE 100
The UK's flagship share index, the FTSE 100, was down nine-points, at 8,311, shortly after opening this morning.
Brent crude oil futures were up 1.62%, trading at $72.70 a barrel.
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