Business confidence in negative territory According to a survey of accountants by trade body the ICAEW, business confidence in the UK has hit -5, the first negative reading since Britain emerged from lockdowns last year and a sharp decline from a high of 47 in the third quarter of 2021. The high costs of production, driven by rising prices of raw materials and energy, as well as staff shortages and transport chaos were likely to have affected optimism, the ICAEW said