The CBI's quarterly gauge of manufacturing optimism in the UK dropped to -34 in the second quarter of 2022 from -9 in the previous three-month period. It was the weakest morale since April 2020 as growth in manufacturing output and new orders slowed and costs and selling prices grew at their fastest paces in over 40 years. Investment intentions weakened notably, but employment growth improved and is expected to pick up further next quarter. Meanwhile, the cost of raw materials was the most important factor behind expectations for cost growth in the next three months (80% of respondents said this was extremely important), followed by energy costs (59%), transport costs (41%) and labour costs (38%). source: Confederation of British Industry

Business Confidence in the United Kingdom averaged -3.94 points from 1958 until 2022, reaching an all time high of 55 points in the third quarter of 1959 and a record low of -87 points in the second quarter of 2020. This page provides - United Kingdom Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

Business Confidence in the United Kingdom is expected to be -34.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Business Confidence is projected to trend around 7.00 points in 2023 and -2.00 points in 2024, according to our econometric models.

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United Kingdom Business Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-01-25 11:00 AM Q1 -9 2 5
2022-04-25 10:00 AM Q2 -34 -9 -23
2022-07-22 10:00 AM Q3 -34


Related Last Previous Unit Reference
Business Confidence -34.00 -9.00 points Jun 2022
Factory Orders 18.00 26.00 Net Balance Jun 2022
Small Business Sentiment -31.00 -5.00 Jun 2022

United Kingdom Business Confidence
In the United Kingdom, the Business Optimism Index is published by the Confederation of British Industry's in its Industrial Trends Survey. An average of 400 small, medium and large companies from the manufacturing sector is surveyed each quarter. The Questionnaire accesses the overall sentiment regarding general and export business situation, investment, capacity, order books, employment, output, stocks, prices competitiveness regarding domestic, EU and non-EU markets and innovation and training. For each assessment is computed a sub-index as the percentage of positive answers minus the percentage of negative answers. The composite index is then computed as the weighted average of the sub-indices. An Optimism Index of +100 indicates that all survey respondents are much more confident about future prospects, while -100 suggests that all survey respondents are much less confident about future prospects. An index level of 0 indicates neutrality.
Actual Previous Highest Lowest Dates Unit Frequency
-34.00 -9.00 55.00 -87.00 1958 - 2022 points Quarterly

News Stream
UK Business Morale Deteriorates Most Since Covid Crisis
The CBI's quarterly gauge of manufacturing optimism in the UK dropped to -34 in the second quarter of 2022 from -9 in the previous three-month period. It was the weakest morale since April 2020 as growth in manufacturing output and new orders slowed and costs and selling prices grew at their fastest paces in over 40 years. Investment intentions weakened notably, but employment growth improved and is expected to pick up further next quarter. Meanwhile, the cost of raw materials was the most important factor behind expectations for cost growth in the next three months (80% of respondents said this was extremely important), followed by energy costs (59%), transport costs (41%) and labour costs (38%).
2022-04-25
UK Business Confidence Drops to 1-Year Low
The CBI's quarterly gauge of manufacturing optimism in the UK dropped to -9 in the first quarter of 2022 from +2 in the previous three-month period, pointing to the weakest morale among manufacturers in one year. The sector continued to face intense cost and price pressures, with average costs in the quarter to January seen rising at their quickest rate since April 1980, while firms expect total new orders growth to slow in the next quarter. Supply issues continued to bite, with the share of firms citing skilled labor shortages as a factor likely to limit output next quarter rising to its highest since October 1973, while the proportion of firms citing materials availability as a potential limiting factor declined from last quarter’s multi-decade high but remained elevated by historical standards. Still, investment intentions for the next 12 months for plant & machinery reached their strongest April 1988.
2022-01-25
UK Business Morale Deteriorates Sharply in Q4
The CBI's quarterly gauge of manufacturing optimism in the UK dropped 25 points from the previous period to +2 in the fourth quarter of 2021, falling further from a 48-year high of +38 hit during the second quarter. Concerns about supply shortages in the next three months escalated further, with almost two-thirds of firms citing availability of materials/components as a factor likely to limit output next quarter, the highest share since January 1975. In addition, firms expressed heightened concerns about labor shortages affecting future output, with two-in-five firms worried about a lack of skilled labor, the highest since July 1974, and nearly a third concerned about availability of other labor, a survey-record high. The manufacturing sector also continued to face acute cost and price pressures, with inflation seen accelerating to new highs over the next three months. On a brighter note, manufacturers expect output and total new orders growth to pick up next quarter.
2021-10-21