Business confidence is at its lowest in four years after Britain’s vote to leave the EU, according to research by Lloyds Bank, with the biggest fall in the services sector.

Confidence is down by an average 30 points across hospitality and leisure, retail and wholesale, business and other services, with economic uncertainty and a drop in demand seen as the biggest threat.

Lloyds’ report across around 1,500 businesses is not all bad news, as confidence is still “well above the lows reached during the global financial crisis of 2008/9”, while the pound falling to a 31-year low makes UK goods more competitive globally.

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