Business confidence fell to its lowest level on record in September, driven by concerns over soaring costs, according to a survey of bosses.
Topping the unease were labour costs, with energy prices also weighing on the outlook.
Anna Leach, the chief economist at the Institute of Directors (IoD), said: “Business confidence has plumbed new depths in September, following a fleeting improvement at the tag-end of summer.
“Conditions worsened across the board, with cost expectations hitting a record high, driven notably by employment costs.”
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