Business confidence -11 points on the month in March to 33
- biggest month-on-month drop since the start of the COVID-19 pandemic
- returning to levels last seen in August 2021
- the rise in inflation and the war in Ukraine cited
Sub measures showed:
- The share of firms expecting to increase prices in response to the rise in inflation rose three points to 55%
- Hiring expectations fell by seven points but remained strong at 31%
- a record 49% of firms expected average pay growth of at least 2% in the next 12 months, an increase of 32 points since March 2021
Info on the survey results comes via Reuters.
