UK Economy Given Vote Of Confidence Less Than A Week Before General Election

Despite a relatively positive performance expected for the economy – consumer optimism remains flat

UK Economy Given Vote Of Confidence Less Than A Week Before General Election

With less than one week before the general election, the UK’s economic outlook remains robust – according to a report by Dun & Bradstreet.

Its UK Quarterly Industry Report has revealed that Eurostat’s Industrial Confidence Indicator stood at 9.1 in Q1 2017 – the highest level since Q2 2014.

While the pound’s value experienced a modest increase after the announcement of the snap election, its value is still significantly down on pre-EU referendum levels.

However, its suggested that British exporters have actually benefited from a weakened pound as foreign buyers now preserve UK products to be good value for money, with this trend expected to continue until Brexit has officially happens.

Despite some positives for businesses, consumer confidence remains flat, coming in at -4.3 in March suggesting more people are pessimistic about the economic outlook than are optimistic.

Bodhi Ganguli, lead economist at Dun & Bradstreet, said:

“The latest UK Industry Report compiled by Dun & Bradstreet’s economists highlights a more positive outlook than in previous quarters.

“However, it’s still far too early to say how Brexit negotiations will unfold and what the longer-term impact will be – particularly as the general election results next week could change the government’s priorities.

“It is imperative that businesses of all sizes continue to monitor developments closely and use the latest data to navigate through uncertain times and identify areas of growth.”

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