UK business confidence shows a sharp drop on the month (Lloyds business barometer)

Info via Reuters on the release of Lloyds Bank monthly business barometer

• dropped to 16% in August from 25% in July
• Confidence among British businesses has sunk to its lowest since March 2021
• pay pressures stabilising after a recent rise
• "Business confidence declined for a third consecutive month as firms continue to face economic challenges in the period ahead and as inflation concerns intensify," Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking, said.