Business confidence fell back into negative territory in May as conditions continued to gradually soften, suggesting the subdued economic activity seen in the Q1 GDP data has continued into Q2. Business conditions slipped just below average with trading conditions and profitability easing – though the employment sub-component improved somewhat to be back above average. There were falls in conditions across most consumer-facing sectors including retail and recreation & personal services, while forward orders remained negative overall with deep negatives in retail, wholesale and construction. Nonetheless, capacity ... (full story)