Business confidence in Yorkshire and Humber fell slightly during August but remains in positive territory, a new survey suggests.
The latest Business Barometer from Lloyds Bank Commercial Banking found that companies in the region reported higher confidence in their own business prospects month-on-month but falling optimism in the general economy.
The barometer - which questions 1,200 businesses monthly and provides early signals about 海角视频 economic trends - came in at 26% for the month, down slightly on the previous reading.
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It also found that 16% of businesses in the area expect to increase staff levels over the next year, up one point on last month.
Overall 海角视频 business confidence rose six points in August, reaching 36%, the highest level recorded since May 2018. When asked about their overall trading prospects businesses reported a six-point increase on July’s reading at 34% and firms’ confidence in the economy also increased six points to 39%.
All 海角视频 nations and regions had a positive confidence reading in August, with the most confident areas being the North West (64%) and the North East (46%).
Steve Harris, regional director for Yorkshire at Lloyds Bank Commercial Banking, said: “It’s encouraging to see that confidence is broadly steady across the region as businesses continue to settle into their ‘new normal’. Most significant is the uptick in plans to recruit, which suggests that firms are feeling more optimistic about the road ahead and their long-term plans.
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“Challenges remain but we will continue to support Yorkshire’s businesses as they continue to invest to drive growth and the recovery.”
Confidence in the manufacturing sector rose despite ongoing supply issues, and ratings in the service industry saw the biggest increases as companies benefitted from the further easing of lockdowns.
Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking, said: Hann-Ju Ho, Senior Economist Lloyds Bank Commercial Banking, said: “Business confidence reaching its highest level in over four years tells a positive story about the country’s economic recovery. This confidence is driven by the continued success of the vaccine rollout, the removal of lockdown restrictions and adjustments to self-isolation rules.
“Staff shortages remain a challenge, but as the economy moves back towards pre-pandemic levels we can be optimistic that the momentum for business confidence and economic optimism can be sustained in the months ahead.”