ENQUIRE NOW Call 01315000180
existing clients: call 0131 202 5932

News

Economic optimism edges up as business confidence remains unchanged

According to the latest Business Barometer from Lloyds Bank Commercial Banking, overall business confidence - measured as an average of economic optimism and business prospects, - remains unchanged at 29% in July.

The Business Barometer details that the net balance of firms expecting stronger trading prospects in the coming year fell to 34%; consistent with quarterly economic growth of 0.3%. Meanwhile, economic optimism in regards to the wider economy rose to 25%; lower than at the start of the year.

71% of firms are expecting the Bank of England to raise rates this year, with 23% stating official interest rates at 1% would have a “significantly negative” impact on their business. 30% of firms also expect to increase their staff levels in the coming year, while there are also high pay growth expectations in industries with strongly anticipated employment growth; particularly construction.

In regards to Brexit, 31% of firms believed leaving the EU is having a positive impact on their business activity, with 28% believing it was having a negative effect.

Overall confidence was strongest in the construction sector (48%), followed by manufacturing (38%); while transport and communication (28%) and the other services sector (24%) lagged behind. Regionally, the West Midlands (49%) and London (47%) saw the strongest business confidence, with Scotland (17%), Wales (17%) and the East of England (12%) seeing the lowest.

Contact Us

For expert legal advice on any area of commercial law, contact our specialist commercial lawyers today

More homes on the market as selling prices rise in...
First-time buyers surpass the number of people mov...

Online Enquiry

Contact us using the form below

Invalid Input
Invalid Input
Please select a Legal Service
Invalid Input
Invalid Input
Invalid Input
Invalid Input
Invalid Input
Invalid Input