Business Insider’s Matt Schlapp writes the business news magazine Business Standard has issued its annual business confidence index, a measure of business confidence in the U.K. and the U, since May.
Business Standard’s survey, conducted on March 5, shows that while business confidence has remained relatively steady in recent months, it has dropped from a five-year high of 1.8% in April.
The survey shows that confidence in business and the broader economy has improved slightly since last year, and that the business market is growing in importance, with firms now planning to hire at a faster rate.
The survey also shows that business confidence continues to be higher in Britain than in the United States.
The confidence index is up from an annual low of -1.4 in March and is up 0.3 points since May, when it was -0.1 points.
Business Standard’s data comes as Brexit looms large in the Brexit negotiations, with British Prime Minister Theresa May said she would seek a new Brexit deal that includes “meaningful access” for companies to the European market, as well as the right to trade with the European Union.