Sunday 13th June 2021
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Firms plan to boost recruitment as business confidence climbs

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More firms in the region expect to hire new staff after business confidence continued to rise in May, according to a Lloyds Bank Commercial Banking survey. It showed that a net balance of 15 per cent of businesses in the region expect to increase staff levels over the next year, up 10 points on April and the highest reading since January 2020.

Overall business confidence amongst firms in the East of England rose two points in May to 26 per cent the highest point for 15 months, according to the bank’s business barometer. Firms confidence in their own business prospects rose eight points to 25 per cent although their optimism in the economy dipped slightly. Nationally, UK business confidence rose four points in May to 33 per cent, the fourth month running it has increased and following the re-opening of non-essential retail and hospitality.

Dave Atkinson, regional director for the East of England at Lloyds Bank Commercial Banking, said: “Business confidence in the East of England soared last month and it’s encouraging to see sentiment continuing to climb this month, as further restrictions are eased. The region’s famous hospitality and leisure sector benefited from the ability to again welcome indoor and overnight customers, and that’s reflected in the rising number of businesses planning to hire more staff.”