Business confidence remains steady since last report in July according to Lloyds Bank
Latest news release from Lloyds Bank 6th January 2017 headlined ‘Business confidence remains stable as investment and hiring intentions improve’
Lloyds Bank reveals that the confidence index – an average of respondents’ expected sales, orders and profits over the next six months – was steady at 23 per cent compared with 24 per cent in July 2017. It remains above the lows recorded immediately after the EU referendum.
Gareth Oakley, Managing Director, SME Banking, Lloyds Banking Group said: “Despite market uncertainty and global political turbulence, businesses are still upbeat.
“Many are looking to boost their investment and staff numbers which is very encouraging, even though challenges remain in recruiting skilled labour.
“While the Brexit negotiations continue, businesses are focused on short term threats – including managing higher costs and maintaining positive cash flow – so that they can prepare for whatever 2018 brings.”
Hann-Ju Ho, Senior Economist, Lloyds Bank Commercial Banking said: “Firms continue to signal a positive outlook for their business activity prospects, but they are also concerned about prospects for the wider economy which represent a key downside risk. Nevertheless, the improvement in investment plans is a positive sign amid ongoing weakness in productivity growth.
“Firms, especially in the services sectors, indicate that upward price pressures are likely to persist over the next six months. Exports, meanwhile, are currently being supported by the exchange rate and strong global demand.”
Read the mews release from Lloyds Bank 6th January in full click here.