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The ICAEW Business Confidence Monitor · Companies nevertheless expect their domestic sales to grow strongly over the next 12 months, and their export sales to also rise. They expect profits to increase, in line with domestic sales, and they plan to take on more staff.
The results of Q2 ICAEW Business Confidence Monitor™ (BCM) are in. The latest results show that business confidence has hit its highest level since a survey began in 2004. The continued success of the vaccine rollout programme in the UK and declining infection rates are likely reasons behind this. The findings come after figures from the Office for National Statistics showed the UK economy had contracted by 1.5% in the first three months of 2021, but gathered speed in March as lockdown restrictions were eased.
· Transport problems are a widespread growing concern, especially for those companies that export. Shortages of road and air-freight capacity, Brexit disruptions and the temporary closure of the Suez Canal are all likely factors.
BCM Q2 key findings ·E conomic recovery stalled through the winter but now looks to be resuming. Confidence is at its highest level on record, reflecting the success of the vaccine roll-out and the sharp decline in infection rates. ·M any sources of uncertainty remain, including the possibility that the much hoped-for consumer recovery will disappoint, and the existence of both economic and health risks emerging from other parts of the world.
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· Regulatory requirements are also a large concern, with both Brexit and COVID-19 restrictions contributing at least slightly to the growth in challenges facing businesses. You can view the full report and regional findings here: https://www.icaew.com/technical/economy/economic-insight Or you can join us, Pro Manchester and Professional Liverpool for the live results on Friday 11 June – register here or rsvp directly to Alex.Pilkington@icaew.com Hope you can make it.
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