UK business confidence dips to lowest level since general election

Lloyds’ latest survey found business confidence fell three points to 47%, a three-month low, although it is still above the long-term average of 29%. Photograph: Dan Kitwood/Getty Images

UK business confidence has dropped to its lowest level since the general election, as firms grow more pessimistic about the economic outlook.

Amid fears that the Labour government’s warnings of a tough budget in October have hurt the economy, the latest Lloyds Bank Business Barometer has found that business optimism weakened this month to its lowest level since June.