U.K. Employers' Confidence at Lowest Since Brexit Referendum

(Bloomberg) -- U.K. employers are less optimistic than at any point since the Brexit referendum, according to a new report.

Firms’ confidence in the prospects for the U.K. economy tumbled this month, reaching the lowest since the survey began in June 2016, the Recruitment and Employment Confederation said Wednesday. Prospects for hiring and investment also reached a fresh low.

The report highlights the toll Brexit chaos is taking on decision-making for U.K. companies. On Tuesday, Prime Minister Theresa May gave some ground to calls to avoid a chaotic no-deal outcome on March 29, telling lawmakers they’ll have the chance to delay the departure from the European Union should her deal continue to be rejected by Parliament.

In a separate report Wednesday, the Resolution Foundation said that shop workers now face the highest risk of unemployment and redundancy. Meanwhile, the British Retail Consortium said monthly shop-price inflation accelerated to the highest since 2013 in February.

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Brian Swint, Andrew Atkinson

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