Latest data shows that UK business confidence has remained stable and maintained its highest level since August 2024.
The significant confidence boost among retail firms is thought to be the main driving force behind this. Statistics show a seven-point rise in business confidence within retail – the highest seen in almost 10 years.
The latest Lloyds Business Barometer, which collected data between March 3rd and 17th, found that while confidence levels were significantly above the long-term average of 29%, there was a slight dip in hiring intentions.
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Hann-Ju Ho, Senior Economist, Lloyds Commercial Banking, said, “Business confidence remained steady this month, suggesting that UK companies may have been waiting to see the impact of government decisions at home and globally.
“Despite this, today’s data continues to reflect a positive growth trend in the UK economy. With confidence maintaining last month’s high, business leaders are optimistic, noting that investing in their development and workforce will position them well to seize future growth opportunities.”
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