COVID-19 | Corporate confidence drops amid pandemic

Business confidence levels at UK firms have plummeted to a record low due to the impact of the COVID-19 pandemic, new research has found.

According to Deloitte’s CFO survey, corporate confidence levels have seen the largest quarterly fall on record (since it was launched in 2007), which contrasts with the results from the Q4 2019 survey which showed the biggest jump in sentiment in the wake of the general election.

Just 16% of the surveyed executives shared optimism about their organisation’s future going forwards.

Ian Stewart, Chief Economist at Deloitte, said: “The COVID-19 pandemic has seen business confidence drop from an all-time high to an all-time low in just three months.