More companies in the region are planning to recruit staff after business confidence in the East of England surged in July as firms grow increasingly optimistic on their own prospects and on the outlook for the economy.
A net balance of 38 per cent of businesses in the region expect to increase staff levels over the next year, up 11 points on June, according to a business barometer from Lloyds Bank Commercial Banking. Overall confidence in the East rose by 26 points to 61 per cent. Firms’ optimism on their own trading prospects rose by 19 points to 58pc, while optimism in the economy climbed 34 points to 64pc. The East was amongst the most positive regions in the country and nationally, there was an upturn in all sectors, most notably retail where confidence rose by 25 points to a post-pandemic high. Manufacturing and services prospects also improved although construction saw a more modest increase.
Kirsty Sadler, regional director for the East of England, Lloyds Bank Commercial Banking, said: “It’s encouraging to see more businesses hiring as they plan for future growth. This is a step that with benefits that extend far beyond one firm. It’s also good news for local communities and the regional economy as a whole.”
