28 Feb East of England firms’ job creation plans return as confidence remains robust
Business confidence in the East of England held steady at six per cent during February, with firms saying they would move to create new jobs, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in the region report a slight drop in confidence in their business prospects at 15 per cent, compared with 17 per cent in January. When combined with their views on the economy overall, this gives an overall confidence of six per cent.
Despite this, businesses’ hiring intentions rose by 16 points, with a net balance of eight per cent of businesses in the region now expecting to hire more staff during the next year.
Across the UK, overall confidence fell 15 points to just four per cent as firms’ optimism about the economy and confidence in their own prospects slumped.
Firms’ confidence in their own trading prospects fell 14 points to 13 per cent while economic confidence fell by 15 points to minus five per cent.
The Business Barometer questions 1,200 businesses monthly and provides early signals about UK economic trends both regionally and nationwide.