Business confidence suffers record drop
Findings from the latest BDO Business Trends report have shown a sharp drop in business confidence.
The BDO Optimism Index has declined by 6.3 points from 103.3 in April, to 97.0 in May.
According to the company, the fall is the largest drop since records began in 1995 and points to a significantly weakened outlook for the recovery during the second half of 2010 and into 2011. The organisation added that, as a result, economic growth is likely to remain below an annualised 1 per cent in Q4 2010.
Peter Hemington, partner at BDO, commented: "The government has understandably been keen to
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