Business confidence has deteriorated in the face of the war in Iraq and slowing consumer spending, a study revealed.
But business advice group BDO Stoy Hayward said its poll of polls, based on the results of the UK's major business surveys, indicated inflation would drop towards the end of the year, clearing the way for further interest rate cuts.
The BDO Optimism Index, a strong indicator of GDP growth two quarters ahead, dropped by 0.6 points to 98.0 in March, reflecting concerns about the impact of war, as well as further tax hikes in the Budget.
Monday April 7 2003
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