BUSINESS confidence in the North slipped back into negative territory in the final quarter of the year, according to a new survey.

The ICAEW/Grant Thornton UK Business Confidence Monitor (BCM) revealed senior business professionals in the region recorded a Confidence Index score of -7.7, compared to a score of +4.4 for the last quarter.

And, despite some sectors defying the doom, the survey revealed the overall state of the economy and concerns over the eurozone were having a significant impact.

Joe McLean, a recovery and reorganisation partner for Grant Thornton in the North East, said: “The extent of negative sentiment in underlying business performance indicators, with confidence dropping across the UK’s regions and sectors, is worrying. Individual dynamic mid-market companies operating in niche markets continue to do well but the slump in consumer demand and the on-going crisis in the Eurozone is taking a toll.

“Where they can, businesses need to make the most of opportunities in growing Asian and BRIC economies to maintain demand and safeguard future growth.”