Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks Bull Market Smoking Gun - 25th May 24
Congress Moves against Totalitarian Central Bank Digital Currency Schemes - 25th May 24
Government Tinkering With Prices Is Like Hiding All of the Street Signs - 25th May 24
Gold Mid Tier Mining Stocks Fundamentals - 25th May 24
Why US Interest Rates are a Nothing Burger - 24th May 24
Big Banks Are Pressuring The Fed To Losen Protection For Depositors - 24th May 24
Another Bank Failure: How to Tell if Your Bank is At Risk - 24th May 24
AI Stocks Portfolio and Tesla - 23rd May 24
All That Glitters Isn't Gold: Silver Has Outperformed Gold During This Gold Bull Run - 23rd May 24
Gold and Silver Expose Stock Market’s Phony Gains - 23rd May 24
S&P 500 Cyclical Relative Performance: Stocks Nearing Fully Valued - 23rd May 24
Nvidia NVDA Stock Earnings Rumble After Hours - 22nd May 24
Stock Market Trend Forecasts for 2024 and 2025 - 21st May 24
Silver Price Forecast: Trumpeting the Jubilee | Sovereign Debt Defaults - 21st May 24
Bitcoin Bull Market Bubble MANIA Rug Pulls 2024! - 19th May 24
Important Economic And Geopolitical Questions And Their Answers! - 19th May 24
Pakistan UN Ambassador Grows Some Balls Accuses Israel of Being Like Nazi Germany - 19th May 24
Could We See $27,000 Gold? - 19th May 24
Gold Mining Stocks Fundamentals - 19th May 24
The Gold and Silver Ship Will Set Sail! - 19th May 24
Micro Strategy Bubble Mania - 10th May 24
Biden's Bureau of Labor Statistics is Cooking Jobs Reports - 10th May 24
Bitcoin Price Swings Analysis - 9th May 24
Could Chinese Gold Be the Straw That Breaks the Dollar's Back? - 9th May 24
The Federal Reserve Is Broke! - 9th May 24
The Elliott Wave Crash Course - 9th May 24
Psychologically Prepared for Bitcoin Bull Market Bubble MANIA Rug Pull Corrections 2024 - 8th May 24
Why You Should Pay Attention to This Time-Tested Stock Market Indicator Now - 8th May 24
Copper: The India Factor - 8th May 24
Gold 2008 and 2022 All Over Again? Stocks, USDX - 8th May 24
Holocaust Survivor States Israel is Like Nazi Germany, The Fourth Reich - 8th May 24
Fourth Reich Invades Rafah Concentration Camp To Kill Palestinian Children - 8th May 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

UK Economy Promising Signs of Business Confidence Rises Again

Economics / UK Economy Jun 12, 2009 - 01:47 AM GMT

By: Lloyds_TSB

Economics

Best Financial Markets Analysis ArticleLloyds TSB Business Barometer ‘monthly snapshot’ for May shows:
 Business confidence improved for the third consecutive month
 Surge in number of firms expecting better business conditions this year
 Firms regain faith in UK economic prospects
 Trend in increasing confidence should continue through next few months


Britain’s businesses are regaining faith in their own prospects and in the UK economy, according to the latest Lloyds TSB Corporate Markets Business Barometer.

The survey shows that, in May, confidence levels amongst businesses across the UK improved for the third consecutive month, hitting their highest levels in almost a year.

The number of firms expecting business activity to rise rose to 44 per cent last month, compared to 35 per cent in April, while the number expecting activity to worsen, fell from 21 per cent, in April to 16 per cent last month. This shift in expectations means that the balance for May (the positives minus the negatives) shot up to 28 per cent – a 14 per cent increase on the previous month.

Businesses’ views on prospects for the wider economy also surged in May. The balance of firms expecting economic conditions to improve hit 40 per cent (with 61 per cent feeling more optimistic and 21 per cent feeling more pessimistic). This represents a dramatic rise on April’s balance of 11 per cent.

Firms in the industrial and services sector saw a particular boost in confidence. The balance of services firms expecting better trading conditions in the coming 12 months rose 16 per cent, to 30 per cent, while for industrials the balance surged by 29 per cent to 15 per cent - perhaps fuelled by the brighter picture emerging from European data.

Across the regions, there was universal increase in optimism about business prospects for the next twelve months. Firms in the Midlands now have the strongest confidence balance (53 per cent), followed by those in the North (24 per cent) and South (13 per cent). Surprisingly, although firms in the South are the least confident in their own prospects, they are by far the most positive about the outlook for the wider economy.

Trevor Williams, chief economist, Lloyds TSB Corporate Markets, said: “While it would be premature to talk of an end to the recession, we should be careful not to overlook the significance of the growing confidence we are witnessing amongst businesses.

“Confidence is always the foundation on which any recovery is built. We’ve now seen three consecutive months of growing optimism amongst UK businesses – and if this persists over coming months the recovery should not be too far behind.”

Barometer questions
Are you presently more optimistic about the economy than you were three months ago?

During the next 12 months, do you expect your level of business activity to increase?

Notes:
1 The ‘balance’ is calculated by subtracting all negative responses to a question from all positive responses.
The survey started in January 2002 and research is carried out monthly on behalf of Lloyds TSB Corporate Markets by Continental Research. Data represents over 200 companies with turnover above £1million.
The Business Barometer complements the Consumer Barometer which is also released monthly by Lloyds TSB Corporate Markets.
http://www.lloydstsbcorporatemarkets.com/economicresearch.asp

For more information:
Emile Abu-Shakra
Manager, Media Relations
Lloyds TSB Group Media Relations
Tel 020 7356 1878
http://www.lloydstsbcorporatemarkets.com/

Lloyds TSB Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in