Growth expectations among UK firms take ‘decisive turn for worse’, says CBI

Expectations negative for first time in 2024 as business confidence plummets since Rachel Reeves's budget

Growth expectations among UK companies have taken a decisive turn for the worse", in a fresh blow to Rachel Reeves amid warnings that business confidence has plummeted since the budget.

For the first time this year, expectations for growth have turned negative, according to the Confederation of British Industry's latest growth indicator, which shows that a majority of companies expect activity to decline in the three months to February.