Two thirds of UK firms concerned about short-term outlook, fewest since Feb 2022: ONS

British businesses were the least concerned about their trading prospects for the coming month since February last year, the Office for National Statistics said on Thursday.

The ONS said around two thirds of companies, or 67%, reported some form of concern for their business in August, the lowest percentage since February 2022, when Russia invaded Ukraine.

Businesses cited inflation and falling demand for goods and services as their main concerns.

The proportion of businesses reporting concerns about energy price fell to the lowest in 17 months.

Around one in eight businesses reported worker shortages in mid July, with 38% of those firms saying staff were working increased hours as a result.