-2.5 on previous index reading
The Business Pulse stood at 88.7 in April 2022, down 2.5 on last month and 0.1 on a year ago. While the Industry and Services Pulses were little changed this month, the Retail and Construction Pulses saw big drops. Firms in all four sectors pared back near-term expectations for business activity and hiring however. This month’s research also shows some slippage in growth ambitions, with 55% of firms indicating that they plan to expand in the next 1 to 3 years, down from almost three in five in January. Notably though the share intending to scale down hasn’t picked up – instead, more businesses are opting to stay the same size amid ongoing sourcing and staffing challenges and new uncertainties.
