Confidence Is Gradually Fading Away

Confidence Is Gradually Fading Away



4 years ago

~1.5 mins read

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Executives at Britain's largest businesses "are braced for coronavirus to knock corporate revenues by more than a fifth this year", says The Times.

Last month, a key index on economic confidence plunged to its lowest levels since the index began in 1998. 

What has happened to the UK economy?

The IHS Markit's "flash" purchasing managers' index (PMI), which gives early estimates of private sector activity in the month, fell from 36 in March to 12.9 in April, reports The Times.

The fall was far more severe than economists had predicted – they had forecasted a drop to 31.4..

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