Thanks for joining us. Bosses are facing a downturn in demand equivalent to levels experienced during the pandemic and in the wake of the global financial crisis, a survey from Lloyds has shown.
The slump comes as businesses prepare for the Bank of England to potentially announce a 15th consecutive increase in interest rates on Thursday to 5.5pc.
5 things to start your day
1) ‘Sandwich generation’ paying for Britain’s inactivity crisis, says ex-Bank of England chief | Andy Haldane warns over pressures of long-term sickness on middle-aged workers
2) Cut taxes or electric car industry will suffer, ministers warned | Carmakers blame lack of incentives for battery-powered vehicles’ flagging demand
3) Elon Musk brands Saudi Arabia Tesla factory claims ‘utterly false’ | Reports come as the billionaire ‘plays the field’ for a new manufacturing site
4) Sainsbury’s slaughters beef cattle months earlier as part of net zero ambitions | Supermarket says improved efficiency on farms has brought forward ‘optimal point for consumption’
