UK economy ‘running on empty’ as post-pandemic order books dry up

Business confidence slumps to level that typically signals imminent recession, warns economist

Britain's economy is starting to run on empty" as post-pandemic order books dry up and the highest inflation in 40 years affects confidence, the latest snapshot of the private sector has shown.

Flash estimates of the economy's performance in June showed business optimism at its lowest since the early months of the Covid pandemic in the spring of 2020 and the sharpest drop in new order volumes for a year.