Nottingham & Sutton-in-Ashfield: 0115 940 2015 - Email enquiries@rumsby.com

Business confidence in economy 'stabilised' in May

Confidence in the UK economy amongst businesses 'stabilised' to just below neutral in May, according to a survey carried out by the Institute of Directors (IoD).

02 Jun 2023

Confidence in the UK economy amongst businesses 'stabilised' to just below neutral in May, according to a survey carried out by the Institute of Directors (IoD).

The IoD's Directors' Economic Confidence Index stabilised at -6 in May. The Index measures business leader optimism in regard to prospects for the UK economy.

39% of those polled reported feeling pessimistic about UK economic prospects, whilst 33% stated they feel optimistic. The most common concerns for trading included adverse economic conditions, skills shortages and the cost of energy. These proved to be the same concerns as the last time firms were quizzed in February.

Commenting on the findings, Kitty Ussher, Chief Economist at the IoD, said: 'Confidence improved in the first few months of the year as business leaders began to believe that the outlook for the UK economy, although difficult, was not as bad as they had previously been led to believe. Our confidence index is now stabilising at a just below neutral stance, similar to that recorded before the invasion of Ukraine.

'Although investment intentions are picking up and our members are broadly planning for growth, it will take a greater sense that the worst is behind us before confidence really starts to lift.'

Testimonials

Services for business

Minimise your taxes and relieve you of the administrative burden

Here at DK Rumsby, we provide businesses of various sizes and types with unique, tailored accounting and taxation services.

Learn more

Services for individuals

We have a large core of personal tax clients

DK Rumsby provide individuals with comprehensive accounting and taxation services.

Learn more

Specialist Services

We offer specialist advisory and support services to many businesses

Our highly-qualified team cater for businesses in a variety of specialist sectors and divisions.

Learn more

Copyright

© 2025 DK Rumsby & Co Ltd. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Registered in England & Wales Company No. 3941558
Registered Address: Sutton-in-Ashfield
VAT Registration No. 118 7566 46

Contact Us

Please call:
Nottingham & Sutton-in-Ashfield - 0115 940 2015

Quick links

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

Nottingham Office
3 Colwick Quays Business Park, Colwick, Nottingham, Colwick, Nottingham NG4 2JY

Sutton-in-Ashfield Office
66 Outram Street, Sutton-in-Ashfield, Nottinghamshire NG17 4FS