BCC Survey: Only 17% of UK Firms Plan to Increase Investment Over Next Three Months

Only 17% of UK companies surveyed plan to increase investment over the next three months, down from 21% in the first quarter, according to Jiemian News, citing the British Chambers of Commerce (BCC) quarterly economic survey. Investment pullbacks were most pronounced in hospitality and catering and in retail, where 38% and 35% of respondents, respectively, said they intend to cut spending. For full-year operations, 44% of surveyed firms expect revenue to rise, compared with 49% in the first quarter. Inflation concerns were cited as a key factor behind the cautious stance: 66% of respondents said they were worried about inflation, up from 50% in the first quarter.