Monday 25th March 2019
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Firms stay confident on their own prospects despite economic pessimism

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Business confidence in the East of England fell in December although firms’ belief in their own prospects in the region improved slightly and a positive balance are still planning to hire more staff during the coming year. A Lloyds Bank business barometer for December showed that overall confidence for firms in the East fell by six points in the month to 11 per cent and a net balance of six per cent of firms are pessimistic about the economy.

But firms’ confidence in their own business prospects rose one point to 27 per cent. Companies’ hiring intentions showed that a net balance of eight per cent of businesses in the region expect to hire more staff during the next year, although this was down on the previous month.

Steve Elsom, regional director for the East of England at Lloyds Bank Commercial Banking, said: “Business confidence across the region has slid backwards in December, driven by economic pessimism amid a backdrop of ongoing uncertainty. But it’s heartening to see that regional firms still have confidence in their own business prospects and are making headway with their growth ambitions as they enter the new year.”