South West business confidence rises during September 2018

Friday 28th September 2018

Research by Business Barometer from Lloyds Bank Commercial Banking, revealed that business confidence among South West companies increased by 13 points to 26% whilst economic optimism rose 7 points to 23%. For the fuller picture please read the bulletin below which was issued by Insider Media Ltd. today. 

Roger Mundy, Managing Director, Beardsley Theobalds, 28th September 2018

Confidence on the up in the South West

Business confidence in the South West rose during September, new research has found.
According to the latest Business Barometer from Lloyds Bank Commercial Banking, companies reported higher confidence in their own business prospects, which rose 13 points to 26 per cent, and higher economic optimism, up seven points to 23 per cent.

Businesses' hiring intentions showed that a net balance of 20 per cent of businesses in the region expect to hire more staff during the next year, down four points on last month.

Nationally, overall confidence rose six points to 29 per cent as businesses' optimism about the economy bounced back after August's dip, rising nine points to 26 per cent. Companies' confidence in their own business prospects rise three points to 32 per cent.

The Business Barometer questions 1,200 businesses monthly and provides early signals about UK economic trends both regionally and nationwide.

Andrew Kemp, regional director for the South West at Lloyds Bank Commercial Banking, said: "It's encouraging to see firms in the South West recover from their brief dip in business confidence last month.

"September marks a boost in both regional and national economic confidence, as well a brighter outlook for their own prospects.

“While hiring intentions took a slight hit this month, this still shows that significantly more firms in the South West are planning to grow than contract, which can only be positive.”

September's survey - which was carried out between 3 and 16 September - found that across the region, a net balance of 9 per cent of businesses said they felt that the UK's exit from the European Union was having a negative impact on their expectations for business activity. This compares with a net balance of six per cent who thought it was having a positive impact just a month ago.