Overall business confidence has remained unchanged, at 42%, for the third month in a row, finds a new report.
On top of this, economic optimism has reached its highest level since February 2022 (at 39%).
Commenting on the Lloyds Bank Business Barometer findings, Hann-Ju Ho, Senior Economist, Lloyds Bank Commercial Banking, said, “We are beginning to see a consistent trend emerge from our Barometer results in recent months.
“Businesses are feeling increasingly confident about the economy, coinciding with falling inflation and hopes that interest rates will start to fall this year.
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“There continues to be a mixed picture among the regions, with the biggest rises seen in Wales and the South West. The strongest confidence was reported in the East of England, with confidence rising for the third consecutive month. Confidence in the North East eased slightly but remained strong in April.
“The second quarter of 2024 has started brightly for businesses, and we are seeing firms expressing greater confidence in an enduring economic recovery.”
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