• Business confidence down in Q2

Economic recovery in the UK is expected to slow over the second half of the year following a fall in confidence among businesses, according to the Institute of Chartered Surveyors England and Wales and Grant Thornton.

Close to a fifth of companies felt less confident about the coming year than they did during the second quarter, hit by worries over cuts to public spending. Michael Izza, ICAEW CEO, said: "UK businesses that came through the recession are now facing the challenge of surviving the recovery. They still don’t know what the future holds and are uncertain about how the mood of fiscal austerity will impact the economic recovery."

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