A survey of 6,100 companies has found that global business confidence has slipped to its lowest point in 5 years. The Markit Global Business Outlook Survey, taken in October, showed that a net figure of 28% more companies expected higher business activity. This is compared to June’s result, where it was found that 39% more companies expected higher business growth. Plans for hiring and investment also saw a decline.
Factors that lead to the decrease were fears of another downturn in the Eurozone, hikes in interest rates, and also the crisis in Ukraine and uncertainty in the Middle East. The UK was the country with the most confidence out of the survey, however it did drop as a result of slower growth. Russia was the biggest worry, with many political sanctions and an unstable currency driving business to a new low.