BUSINESS confidence has slumped among Yorkshire firms, a new survey has revealed.
The latest poll conducted by Ipsos MORI for regional development agency Yorkshire Forward showed a “distinct downturn” with firms in the region less optimistic about their prospects that their counterparts elsewhere in the country.
Firms reported weakening domestic orders, but were more positive about exports. Most companies said output remained below capacity, but expected to invest more in buildings, training, research and development and plant and machinery over the next 12 months.
The least optimistic sectors includes construction, transport and distribution, hotels and catering. Manufacturers and those in finance and business services were the most positive.
Rising costs emerged as the greatest challenge in the year ahead followed by environmental issues such as recycling, energy-saving and cutting waste.