The CBI's quarterly gauge of manufacturing optimism in the UK jumped to -1 in the third quarter of 2020 from an all-time low of -87 in the previous three-month period, as the economy reopened from a coronavirus-induced lockdown. Firms expect output and total orders to rebound from record slumps in the next three months, with domestic demand seen rebounding and export orders seen falling only slightly. Also, employment is set to decline at a softer pace, after suffering the biggest contraction since the second quarter of 1999. Manufacturers expect investment in buildings and plant & machinery to decline in next year, but to a lesser extent than last quarter. Furthermore, firms plan to raise capital expenditure on product & process innovation and training & retraining in the next year.
Business Confidence in the United Kingdom averaged -4.07 points from 1958 until 2020, 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 September of 2020. source: Confederation of British Industry
Business Confidence in the United Kingdom is expected to be -38.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in the United Kingdom to stand at -10.00 in 12 months time. In the long-term, the United Kingdom Business Confidence is projected to trend around -8.00 points in 2021 and -6.00 points in 2022, according to our econometric models.