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ICAEW Business Confidence Monitor

Q2: Business confidence highest for two years - quarterly survey of UK business conditions

Full national report, plus regional and sectoral reports available below.

National

Business Confidence Monitor

UK Business Confidence Monitor: National

  • Report
The latest Business Confidence Monitor (BCM) for Q2 2024 shows a sustained increase in confidence and is now at its highest level for two years, as businesses expect falling input price inflation to support further growth in demand and improved profits in the year ahead.
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About BCM and methodology

  • Article
  • ICAEW
One of the largest and most comprehensive quarterly surveys, running for 20 years, the BCM includes a vast range of indicators and provides an authoritative and authentic voice on the economy and business issues.
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Documents

Business confidence highest for two years but national living wage increase ups costs

  • Press release
  • ICAEW
Lower inflation and strong hopes for sales growth helped business confidence in the UK rise to its highest level in over two years, a survey of business leaders published today (Wednesday 10 July) has found.
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Mircophones

Nations and regions

Scotland
Scotland

Q2: Scottish sentiment increases slightly but now lags the UK average.

Wales
Wales

Q2: Business confidence drops significantly in Wales

London
London

Q2: London’s business confidence improves further and moves ahead of the UK average

North West
North West

Q2: Sentiment remains high as price inflation recedes

North East
North East

Q2: Business sentiment in the North East continues to build

Yorkshire
Yorkshire & Humber

Q2: Business confidence declines despite encouraging signs of recovery

West Midlands
West Midlands

Q2: Confidence in West Midlands up on the previous quarter

East Midlands
East Midlands

Q2: Business confidence in the East Midlands improves slightly but lags the UK

East of England
East of England

Q2: Business confidence strengthens and is now the highest in the UK

South West
South West

Q2: Confidence in the South West remains positive

South East
South East

Q2: Confidence rose sharply and is now ahead of the UK

Sectors

Construction hat
Construction

Q2: Confidence rises again to highest level for over two years

Wind turbine
Energy, Water & Mining

Q2: Business Confidence Index rose sharply

Crane
Manufacturing & Engineering

Q2: Business Confidence Index stays positive for Manufacturing & Engineering

Crate
Retail & Wholesale

Q2: Retailers and wholesalers are not sharing the confidence improvements seen elsewhere.