Wednesday 19th December 2018
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Confident firms shy away from investing and recruiting

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Business confidence in the East of England has touched a two year high although firms are not increasing their investment or recruitment plans, according to a Business in Britain report from Lloyds Bank.

Its measure of confidence -based on expected sales, orders and profits over the next six months – has risen seven points to 25 per cent in the past six months. But the net balance of firms looking to grow investment and recruit has fallen since January. More firms are also reporting difficulties hiring skilled labour the more expecting to increase pay. Brexit uncertainty is seen as greatest risk to firms in the East of England in the next six months, cited by 29 per cent of firms. Steve Elsom, regional director for East of England, said: “Despite confidence growing, many firms have become more cautious in their investment plans. While there is a degree to which firms must be prudent amid such uncertainty, businesses need to make sure they are not missing out on the opportunities that still exist, despite the current turbulence."