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BDO report shows fall in business optimism

Business optimism has fallen for the first time in a year according to the latest BDO Stoy Hayward business trends report.
The report says the UK economy faces potential pressures from the housing market, consumer slowdown and election uncertainty
The report also suggests interests rates will be kept on hold when the Bank of England’s Monetary Policy Committee meets next week, although rate rises look likely later in the year.
BDO Stoy Hayward partner Peter Hemington says: “The UK economy is on the whole withstanding the slowdown in consumer spending, and growth prospects remain upbeat. The Bank of England will be growing impatient to raise interest rates, and it is likely that whoever wins the General Election will see further rate increases during the next quarter.”

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