New data from the Recruitment and Employment Confederation (REC) shows employers’ confidence in the prospects for the UK economy fell by 6 percentage points last month to a net: -20. This is the lowest on record in the three years the survey has measured sentiment about the economy amongst Britain’s businesses.

While not new, the weakening trend seen in today’s survey appears to be affecting hiring decisions in respondents’ own firms. Employers’ confidence in making hiring and investment decisions declined by 3 percentage points from the previous month to net: +5, the lowest level recorded since June 2016.