The BCC said its survey of 5,200 mostly small and medium-sized businesses showed the gloom was concentrated in the retail and hospitality sectors.
After a slump in business confidence in the second half of 2022, business sentiment improved as political turmoil and inflationary pressures showed some signs of easing, David Bharier, the BCC’s head of research, said.
It shrank by 0.1% in the third quarter, partly due to business closures to mark Queen Elizabeth’s funeral. Falls in sales were more common for shops and hospitality firms, where 38% and 32%, respectively, reported a drop.
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