Business Activity Falling at Fastest Pace Since Pandemic – Guido Fawkes

Business Activity Falling at Fastest Pace Since Pandemic

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British business is heading for its worst quarter since the dark days of the pandemic in 2020, with private sector activity expected to tumble to -18% in the three months to September, according to the latest numbers from the Confederation of British Industry. Don’t mention the ‘G’ word…

It comes off the back of a bruising summer, with activity already having fallen to -26% in the three months to June. Activity has broadly been falling since the ‘growth’ budget…

Alpesh Paleja, the CBI’s deputy chief economist said:

“Companies are still grappling with higher employment costs, cautious spending behaviour on the part of households, and increasing global uncertainty. But firms will be looking for further certainty in the Autumn Budget to boost the UK’s overall competitive edge.”

Meanwhile, households’ total liquid assets increased by £8.8 billion in June according to the Bank of England – almost double the increase recorded in May – as families stop spending amid surging prices thanks to Reeves’ tax raid. The Chancer of the Exchequer can’t spin this one…