XII I II III IIII V VI VII VIII IX X XI

Business barometer: East of England confidence rose in February

Business / Thu 29th Feb 2024 at 08:52am

usiness confidence in the East of England rose in February, according to the latest Business Barometer from Lloyds Bank Commercial Banking.

Companies in the East reported higher confidence in their own business prospects month-on-month, up one point at 47%. When taken alongside their optimism in the economy, also up one point to 31%, this gives a headline confidence reading of 39% (vs. 38% in January).

The region’s businesses identified their top target areas for growth in the next six months as evolving their offering, for example by introducing new products or services (47%), entering new markets (40%) and investing in their team (31%).

A net balance of 34% of businesses in the region also expected to increase staff levels over the next year, up three points on last month. 

The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. 

usiness confidence in the East of England rose in February, according to the latest Business Barometer from Lloyds Bank Commercial Banking.

Companies in the East reported higher confidence in their own business prospects month-on-month, up one point at 47%. When taken alongside their optimism in the economy, also up one point to 31%, this gives a headline confidence reading of 39% (vs. 38% in January).

The region’s businesses identified their top target areas for growth in the next six months as evolving their offering, for example by introducing new products or services (47%), entering new markets (40%) and investing in their team (31%).

A net balance of 34% of businesses in the region also expected to increase staff levels over the next year, up three points on last month. 

The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide. 

There was a mixed picture for sectors this month. Confidence fell in manufacturing (nine points to 40%) and construction (seven points to 38%) respectively, although results remain higher than the same time last year. In contrast, the dominant services sector was unchanged compared to January at 45%, exceeding all months of 2023 except for November. Retail confidence was broadly steady, dipping one point to 41%.

A spokesperson said:

Print Friendly, PDF & Email

No Comments for Business barometer: East of England confidence rose in February:

Leave a Comment Below:

Your email address will not be published. Required fields are marked *