Lloyds: Business confidence in Britain declines amid continued economic concerns
LONDON, June 29 (Reuters) - A survey by Lloyds showed that British business confidence in the economy fell this month, but their assessment of their own prospects was less pessimistic.
“While cost pressures and global uncertainty continue to weigh on business sentiment, international firms are much more confident, with many seeing signs of easing supply chain disruptions and rising demand,” said Amanda Murphy, chief executive of Lloyds business and commercial banking.
The survey revealed the following:
Overall business confidence fell three points to +44, below its 12-month average of +47
Confidence in the economy overall fell four points to +31, below the twelve-month average of +38.
Business optimism regarding their trade outlook fell two points to +56, which remains close to its 12-month average of +57, with 64 percent of companies expecting an increase in output over the next year.
Manufacturing confidence fell 10 points to +33 in June, well below its 12-month average of +46.
Employment intentions for the next twelve months have risen for the first time in three months.
Lloyds' data was based on an online survey conducted by Ipsos of 1,200 companies with annual sales of at least £250,000 ($330,275), and the survey was conducted between June 1 and 15.
(US$1 = £0.7569)
