Tuesday 21st January 2020
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More firms planning to recruit despite knock to confidence

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Business confidence in the East of England fell in October but a growing number of firms in the region plan to hire more staff over the coming year, according to a ‘business barometer’ survey from Lloyds Bank Commercial Banking. Overall confidence amongst firms in the East fell two points in October to two per cent and firm’s confidence in their own business prospects fell ten points to seven per cent.

#But hiring intentions showed that a net balance of 8 per cent of businesses in the region expect to hire more staff during the next year, up eight points on September. Across the country, overall confidence rose four points to six per cent as firms’ confidence in their own prospects climbed slightly. The survey questions 1200 businesses monthly and was taken before the government’s new deal on Brexit and the general election was announced.

David Atkinson, regional director for the East of England at Lloyds Bank Commercial Banking, said: “While business confidence in the region has fallen slightly, it’s reassuring to see that a balance of 8 per cent of businesses still intend to hire in the next year, which will provide a real boost for the local economy." Across the region, a net balance of 13 per centof businesses said Brexit was hitting business expectations, up 11 points on the previous month.