The Leeds Business Confidence Index (LBCI) Q4 2025
Business leaders doubled down on their cautious outlook ahead of Q4 2025, as politics, tariffs, and uncertainty weighed down the business outlook. The Leeds Business Confidence Index (LBCI) decreased 1.9 points from Q3 to Q4, remaining at the 5th-lowest level on record. Five of the six components of the index decreased from Q3 to Q4. Industry capital expenditures marked the only increase over the quarter. All components remained well-below levels measured a year ago. Panelists expressed the most pessimism about the state and national economies, and the least pessimism about industry sales.
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý