Business confidence in the East of England rose by nine points during March to 48 per cent as firms grew more optimistic on both their own prospects and the economic outlook, according to a business barometer survey from Lloyds Bank Commercial Banking.
Firms in the region saw their top target areas for growth in the next six months as evolving their offering, investing in teams or moving into new markets. Nationally, business confidence was unchanged at 42 percent. Services confidence fell five points to 40 per cent but this was was offset by stronger confidence in the manufacturing, retail and construction sectors.
Confidence amongst retailers was at its strongest – up five points to 45 per cent - in over two years. Paul Evans, regional director for the East of England at Lloyds Bank Commercial Banking, said: “…the brighter mornings and evenings are being joined by a brighter mood among businesses in the East. Last week’s news of slowing inflation could bolster this, in the latest sign that the economy is stabilising.”
