UK companies growth outlook falls to 2026 low, CBI survey shows
Business confidence across the UK weakens further in June as companies cut their expectations for growth in the coming quarter. The latest reading adds to recent signs of pressure on the economy, even as a separate jobs survey points to continued hiring demand.
Highlights
- CBI's expected output volumes gauge drops to -28 in June from -24, marking its lowest since December 2025 and indicating broad business slowdown.
- CBI's growth measure over the past three months falls to -34 in June from -31 in May, the weakest reading since March, with sharp output declines in services.
- Adzuna reports UK job vacancies rise for the fourth straight month, but advertised salaries slip 0.2% month-on-month while graduate salaries plunge 42% year-on-year.
June survey signals broader business slowdown
As reported by the Confederation of British Industry, its gauge of expected output volumes over the next three months falls to -28 from -24, the weakest level since December 2025. The measure tracks confidence across manufacturing, retail and services.The survey, published on Monday, follows business readings last week that show the services sector, the main driver of Britain's economy, is undergoing its steepest downturn since January 2023. The CBI also says its gauge of growth over the past three months declines to -34 in June from -31 in May, the lowest reading since March.
Output volumes in services fall significantly, the CBI says, with both consumer-facing and business services sub-sectors struggling. The CBI Growth Indicator covers 848 companies between May 26 and June 12.
Labour market data offers mixed UK picture
A separate survey from online jobs portal Adzuna shows job vacancies rise for a fourth consecutive month, suggesting some resilience in recruitment despite the weaker business outlook.However, advertised salaries edge down 0.2% from the previous month, although they remain 3.8% higher than a year earlier. Graduate salaries are down 42% year-on-year, marking the sharpest drop on record.
Our earlier report on UK political and market risks around Labour’s leadership transition to Andy Burnham outlined how the prospect of policy shifts briefly pushed gilt yields higher before they eased back as Burnham signalled support for existing fiscal rules. We also noted that investors and households were watching the knock-on effects for borrowing costs, mortgage pricing and potential changes to wealth and asset taxation, alongside broader uncertainty in global markets.
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