Brexit uncertainty hits business confidence in Europe

cde.news desk 30 May 2019, 06:00 · 1 min read

epa06500052 A group of tourists, one riding on a bear statue symbolizing negative market trends and falling securities prices, seen in front of the Frankfurt Stock Exchange building (R) in Frankfurt am Main, Germany, 06 February 2018. Shares at Frankfurt's stock exchange fell sharply up to some three per cent as markets opened as part of a global sell-off of shares. The slide started last week following reports from USA indicating strong wage growth and amid fears of rising inflation and possible rise in US interest rates. EPA-EFE/MAURITZ ANTIN

Uncertainty over Britain’s departure from the European Union has triggered a sharp drop in business confidence in Europe over the past six months, a survey showed on Thursday.

Only 50% of European business leaders said they were confident about the ability of their firms to grow and prosper, compared with 70% in November 2018, the survey by insurer CNA Hardy found.

Only 36% of British business leaders were confident, down slightly from 39% in the previous survey.

Weaker economic conditions and a rise in populism in Europe are also dampening business confidence the survey showed.

Via Reuters

Filed under Brexit European Affairs European Union

Topics BREXIT CNA Hardy Europe