UK facing collapse in business confidence

Finance directors believe there is a one-in-two chance of the double-dip recession lasting until the end of the year and four-fifths believe it would be better to delay investment plans due to the current uncertain environment, according to Deloitte’s CFO survey.

Confidence among the group in the second quarter dropped to a five-year low. Deloitte’s findings were matched by BDO, which found that business confidence had plummeted to its lowest level this year. A separate report on activity levels from Lloyds TSB found that growth had slowed to the weakest reading in seven months....Telegraph