Things aren’t looking good and confidence is draining away quicker than Pimms at a summer party…

BDO: The Business Trends indices comprise data from over 11,000 respondents employing approximately five million people in the UK.  Following the Bank of England’s downward revision to its growth forecast, this month’s figures provide a clear indication that a double dip could be on the horizon.

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Peter Hemington, Partner, BDO LLP commented: “The BDO Optimism Index has been falling sharply for some months now and, as we would expect, this has now begun to feed into what UK businesses are saying about current activity levels.  Given the severity of our indices’ downward trajectory, we now believe that there is a substantial risk of the UK falling into a “double dip” recession in early 2011.

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Looking forward to the winter already.