STORY
Confidence among British businesses increased to its highest level since March during August, according to the latest Lloyds Bank Business Barometer. The survey’s headline confidence measure rose by four percentage points to 53%, above its average of 47% over the preceding year.
Companies reported greater optimism about both their own prospects and the wider economy, with economic confidence rising by seven points. Lloyds said stronger customer demand and signs of economic resilience had encouraged more businesses to move from managing immediate costs towards considering investment and growth.
The findings are based upon a monthly survey of 1,200 businesses and measure sentiment rather than completed investment or economic output. Continued uncertainty surrounding international energy prices and the Government’s first Budget under Prime Minister Andy Burnham could still affect confidence during the autumn.