According to the Lloyds Barometer survey found from 1 to 15 October confidence fell three points to 44% in October. In July and August business confidence reached 50%, the highest since November 2015.
Although overall business confidence dipped in October, it follows a sustained period of significant optimism, and business sentiment remains above historical levels.
Encouragingly, many businesses remain confident in their own trading prospects, and the increase in hiring intentions suggests more employers want to grow their workforce.
As they move into the final part of the year, businesses will look to manage these considerations effectively, reflecting a rounded picture of their economic outlook.
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