Business confidence rises in the City
Despite continued downward pressure on orders, business confidence has risen in the city, according to the latest BDO Business Trends Report.
Overall confidence was up from 94.9 to 95.2 points last month, with large company optimism rising over one point, the mid-tier firm found.
However, the ‘poll of polls’ revealed small business confidence slipped from 98.2 to 98 points in December.
According to BDO, the Monetary Policy Committee is not likely to hike interest rates and Britain is on course for growth in the current quarter
Partner Peter Hemington commented: ‘The cut in interest rates has borne fruit in the consumer sector. I hope to see this mirrored by a continuing recovery in business confidence.
‘However, this should not blind us to the fact that much of the economy is in a fragile state.’
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BDO downgrades growth prospects