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ICAEW Business Confidence Monitor

UK nations and regions

Q3: Business Confidence equals record-breaking slump.

Access the latest Q3 regional and sectoral reports below.

Nations and regions

Stylised thistle illustration representing Scotland.
Scotland

Q3: Business sentiment in Scotland climbed out of negative territory in Q3 2026 and it is now the most optimistic region in the UK.

Stylised red dragon illustration representing Wales.
Wales

Q3: Business confidence in Wales returns to positive territory, reaching its highest level in two years.

Illustration of Big Ben representing London.
London

Q3: Confidence in London improves but remains in negative territory as geopolitical risk continues to weigh on businesses.

Illustration of Blackpool Tower representing North West England.
North West

Q3: North West business confidence rises but remains negative amid weak sales and persistent cost pressures.

Illustration of the Angel of the North representing North East England.
North East

Q3: Business confidence in the East of England improves but remains in negative territory.

Stylised white rose illustration representing Yorkshire.
Yorkshire & Humber

Q3: Yorkshire & Humber business confidence remains positive and above the UK average.

Abstract illustration representing the West Midlands region.
West Midlands

Q3: Business confidence in the West Midlands returns to positive territory as companies anticipate a strong rebound in exports growth.

Abstract folded illustration with chart lines representing the East Midlands.
East Midlands

Q3: Business confidence in the East Midlands recovers sharply but remains in negative territory.

Stylised crab illustration representing the East of England.
East of England

Q3: Business confidence in the East of England improves but remains in negative territory.

Illustration of Stonehenge representing South West England.
South West

Q3: Business confidence in the South West returns to positive territory as domestic sales growth picks up.

Illustration of the White Cliffs of Dover representing South East England.
South East

Q3: South East business confidence rebounds, but remains subdued amid weak sales and geopolitical risks.

Sectors

Illustration of a hammer made from charted material representing the construction sector.
Construction

Q3: Business confidence in Construction improves but remains in negative territory as sales and profits stall.

Illustration of a fuel pump made from charted material representing the energy sector.
Energy, Water & Mining

Q3: Energy, Water & Mining sector maintains upbeat sentiment.

Illustration of an industrial robotic arm made from charted material representing the manufacturing sector.
Manufacturing & Engineering

Q3: Manufacturing & Engineering confidence returns to positive territory as exports strengthen.

Illustration of a shopping bag made from charted material representing the retail sector.
Retail & Wholesale

Q3: Business sentiment in Retail & Wholesale rises but remains weak as firms remain cautious about the outlook.

Illustration of a calculator made from charted material representing the banking, insurance and finance sector.
Banking, Finance & Insurance

Q3: Banking, Finance & Insurance confidence returns to positive territory amid stronger profits growth.