02 May EAST OF ENGLAND SEES BUSINESS CONFIDENCE BOOST
Business confidence in the East of England bounced back in April after falling to the lowest level in England last month, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Overall confidence now stands at two per cent in April, four points higher than in March.
Although firms in the East of England report slightly lower confidence in their own business prospects this month than last at 12 per cent (vs. 13 per cent in March), when combined with their more optimistic view on the economy, their overall confidence has improved.
A net balance of five per cent of businesses expect to hire more staff in the next year, down one point from last month.
A net balance of 20 per cent of local businesses say they feel that the UK’s exit from the European Union is having a negative impact on their expectations for business activity, down four points on a month ago.
The Business Barometer questions 1,200 businesses monthly and provides early signals about UK economic trends both regionally and nationwide.
David Atkinson, regional director for the East of England at Lloyds Bank Commercial Banking, said: “While it’s encouraging to see overall business confidence rising, firms are still facing a number of uncertainties.
“Many are understandably cautious as a result, with the number of firms planning to create new jobs this year taking another slight dip this month.
“Whatever the future holds, we’ve pledged to be by the side of business, which is why we’ve committed to lending up to £1.7billion to business in the region this year.”