The Institute of Directors’ economic confidence index, which measures business leaders’ optimism about the prospects for the UK economy in the next 12 months, dropped to -38 in September, down from -12 a month prior.
A similarly sharp decline came from business investment intentions, with a three-month consecutive drop from +24 in July to +10 in August and then -6 in September.
The figure recorded last month was the lowest since September 2020 and the sharpest decline since the outset of the Covid-19 pandemic.
UK economy expands by 0.6% in second quarter
Meanwhile, business lead…