5 days ago
UK Business Confidence Reaches Highest Level Since March
A survey says British businesses felt more hopeful in August.
Their confidence reached its highest level since March.
Many companies said customers were buying more.
Businesses also felt better about the UK economy.
They were more positive about their own future sales and trading.
Fewer companies said they planned to increase prices.
This could make it easier to control inflation.
The survey was carried out for Lloyds by Ipsos.
It asked 1,200 UK companies about their views.
Lloyds' UK business confidence index rose four points to 53% in August.
Confidence in the wider economy increased seven points to 49%.
Businesses' optimism about their own trading prospects rose two points to 58%.
The survey found that 51% of firms expected to raise prices within 12 months, down three points.
The Ipsos survey covered 1,200 UK companies with annual sales of at least £250,000.
- Who
- UK businesses surveyed by Ipsos for Lloyds.
- What
- Business confidence rose sharply, while expected price increases declined.
- Where
- The United Kingdom.
- When
- August; the survey covered the 12 months ahead for price expectations.
- Why
- Companies reported stronger customer demand and greater optimism about the wider economy and their own trading prospects.
Key facts
- Confidence index
- Rose 4 percentage points to +53% in August.
- Highest level
- The August reading was the highest since March.
- Wider economy outlook
- Improved 7 points to +49%.
- Trading prospects
- Increased 2 points to +58%.
- Price expectations
- The share planning to raise prices fell 3 points to 51%, the lowest level since 2022.
- Survey sample
- Ipsos surveyed 1,200 UK companies with annual sales of at least £250,000.
- 12-month confidence averages
- The overall average was +47%, while the wider-economy average was +37%.
Quotes
Amanda Murphy
Chief executive of Lloyds Business and Commercial Banking
“Overall, businesses are reporting stronger customer demand, greater optimism about the wider economy and growing confidence in their own trading outlook.”
firstpost.com
Sources
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