This month, the barometer has brought to light some positive news: confidence is on the rise from last month, and enquiries and turnover from December 2022 are either the same or on the up from the previous year.

With spring around the corner, could the rise in the confidence this February compared to January be an indication of a spring market boost? This February saw 29% of respondence claim that they felt more confident (graph below) which is 12% more that the 17% we saw in January. Despite this jump being lower than last year and in 2021 – when 50% and 57% reported feeling more confident respectively than the previous month – this jump in confidence could be an indication that the spring season will bring new hope to the industry.

For the last three years, there has been a rise in confidence from January to February, which one respondent puts down to being “poised for spring’s new interest and projects.” Whilst it’s not possible to predict exactly how the economic turmoil of the last few months will pan out, other media outlets are certainly giving it a go. In February, the Guardian claimed the “UK can expect year of stagnation after narrowest of escapes from recession,” despite reporting just one month beforehand that the “Impending UK recession could be twice as bad as anticipated”.

Previous years have hosted their own challenges such as the coronavirus, Brexit and much more. With the cost-of-living crisis being the main challenge of 2023 thus far, it will be interesting to see what spring will bring this year. As one respondent says: “We are still waiting to see what effect the cost-of-living crisis will have on work.”

To read the full report click here: UK Barometer Report December 2022