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Business leaders remain cautious on the outlook for the year ahead

January 06 2025

Business leader optimism rose slightly in December but remains at a low point, according to the Institute of Directors' (IoD) latest Economic Confidence Index.

The index, which measures business leader optimism in prospects for the UK economy, crept up to -61 in December 2024 from -65 in November.

This nonetheless represents the fourth lowest reading of the index since its introduction in July 2016.

Business leader confidence in their own organisations also rose to +8 in December, from -7 in November. However, this is still the second lowest reading of this indicator since June 2020.

Anna Leach, Chief Economist at the IoD, said: 'It is welcome to hear of government commitments to stable and long-term policy making that facilitates business planning and investment.

'But it takes more than stability to deliver growth and government rhetoric on investment is increasingly out-of-step with business reality.

'Our data shows that business leaders are proceeding with investment in areas such as technology, workforce training and R&D, motivated by desires to increase efficiency, launch new products and services, and expand their businesses.

'The government must move swiftly to deliver a policy environment in the UK that strengthens investment, with Industrial Strategy, ten-year infrastructure plans and planning reform presenting material opportunities.'

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