04 Dec 2023The Institute of Directors (IoD) has found that confidence amongst directors in the UK is 'stuck in a rut'. The IoD's Economic Confidence Index, which measures business leader optimism in relation to the UK economy, rose slightly last month from a negative reading of -25 in October to -21 in November. It also found that business leaders are 'more optimistic about prospects for their own organisations than they are for the economy as a whole'. Skills shortages and economic conditions remain the top two concerns for business leaders, with energy costs and business taxes also presenting significant challenges. Roger Barker, Director of Policy at the IoD, commented: 'Business leaders' confidence in the UK economic prospects remains firmly in pessimistic territory, even if they are somewhat more optimistic about the prospects for their own organisations. ;Although the Autumn Statement offered succour to business in the form of permanent full expensing, business leaders are still searching for reasons to jumpstart their confidence for next year.'