British business confidence hits 2024 low in December, survey reveals

British business confidence fell to its lowest level of 2024 in December, but employers were a bit more optimistic about the wider economy, according to a survey published today, while separate data showed a pre-Christmas rise in hiring and pay.

The Lloyds Bank Business Barometer measure of confidence among companies fell by 2 points to 39%, still above its long-run average of 29%.

Britain's economy contracted in September and October—the first consecutive monthly falls in output since the COVID-19 pandemic—as employers worried about the new government's first budget, which was announced on October 30.