Not much of a FX rate mover upon release but nevertheless a glimpse into business confidence in the UK, where coronavirus and Brexit are twin challenges.

  • +8 points in the month top -22
  • retail sector increased 11 points to -12
  • manufacturing increased 14 points to -21
  • services up 10 points to -26
  • construction fell eight points to -22 (was up 30 points in June)

Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking

  • "While the results suggest the economy is starting to see some improvement, economic confidence still remains in deep negative territory. The UK Government announcement of the slight easing of social distancing measures has now enabled over half of businesses to reach their capacity and resume their usual activities. However, how businesses will continue to respond to the Job Retention Scheme will be key in the coming months."