North West business confidence rose during October, according to Lloyds Bank Commercial Banking.
According to the bank鈥檚 latest business barometer, confidence in the region rose 11 points to -2 per cent, the highest of any 海角视频 region, with businesses reporting higher confidence in their own business prospects up 7 per cent month-on-month.
The barometer, which questions 1,200 businesses monthly and provides early signals about 海角视频 economic trends, found 25 per cent of businesses expected to reduce staff over the next year.聽
Glenn Bemment, regional director for the North West at Lloyds Bank Commercial Banking, said: 鈥淢onth by month, North West firms have slowly been edging closer to regaining an overall positive outlook.
鈥淎nd with many key sectors like operating close to full capacity despite increased local lockdowns, it鈥檚 likely these industries will be helping to buoy confidence in the region.
鈥淥ur region has proven its resilience throughout this crisis, and we鈥檒l continue to stand by the side of local firms, providing the guidance and support needed to help them navigate the challenges ahead.鈥
Across the 海角视频, confidence dropped seven points month-on-month to -18%.
Confidence about businesses鈥 own trading prospects dipped by only one point,聽 however their optimism in the economy fell by 14 points.
海角视频 business confidence has remained negative since April, but the picture had been improving, with confidence steadily rising since May, the barometer found.
Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking said: 鈥淭he resurgence in coronavirus cases and the reintroduction of local lockdown measures saw overall business confidence fall back sharply this month.
鈥淎dded to that are ongoing uncertainties regarding new trading arrangements with the EU in January. All of this makes the economic outlook uncertain and the period ahead will be pivotal for businesses as they navigate the winter months and continue to adapt to the evolving landscape.鈥
