UK business confidence hits highest since March, Lloyds says
Lloyds said its index rose 4 points to +53%, while the share of firms planning price increases fell to 51%, its lowest since 2022.
- On Friday, Lloyds reported that British business confidence rose 4 points to +53% in August, reaching its highest level since March and exceeding the 12-month average of +47%.
- Optimism about the wider economy drove the increase, rising 7 points to +49%, well above its 12-month average of +37%, reflecting stronger customer demand and improved trading prospects.
- The Lloyds survey, conducted by Ipsos among 1,200 British companies with annual sales of at least £250,000, aligns with S&P Global data from last week showing the fastest growth in six months.
- Firms planning to raise prices in the next 12 months fell 3 percentage points to 51%, the lowest level since 2022, potentially easing pressure on the Bank of England regarding interest rates.
- Amanda Murphy, chief executive of Lloyds Business and Commercial Banking, said businesses report "growing confidence in their own trading outlook, all of which will be helping to support investment and growth plans.
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UK business confidence hits highest since March as firms see stronger demand, Lloyds says
British business confidence rose sharply in August as companies reported stronger customer demand and greater optimism about the economy, while fewer firms expect to raise prices over the next year.
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