Business Confidence Among British Company Directors Soars in December: IoD Survey - Forex News by FX Leaders
Business Confidence Among British Company Directors Soars in December: IoD Survey

Business Confidence Among British Company Directors Soars in December: IoD Survey

Posted Monday, December 23, 2019 by
Arslan Butt • 1 min read

According to a recent survey by the Institute of Directors (IoD), business confidence among British companies has soared to the highest levels since the 2016 referendum in December. Business confidence has surged to +21% in December from -18% in the previous month, turning positive for the first time since early 2018.

Company directors polled expressed their optimism in PM Boris Johnson’s recent victory as it has increased the certainty surrounding Brexit, boosting their optimism towards drafting plans for investment, hiring and business expansion in the near future. The business confidence measure has languished in negative territory, indicating pessimism among companies, for over 18 months.

A higher proportion of company directors, especially from larger firms, have expressed greater optimism about economic prospects in the coming year, rising from 46% in December’s polls from the previous month’s figure of 26%. In addition, around 18% of company directors expect an increase in their business investments even as they feel their businesses will experience higher costs in the next 12 months.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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