UK Business Confidence Reaches Four-Month High in July, Lloyds Shows
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UK Business Confidence Hits Four-Month High in July, Lloyds Survey Finds
Overview of Lloyds Business Confidence Survey Results
LONDON, July 31 (Reuters) – British businesses turned more confident about the economic outlook earlier this month, reflecting a brief fall in energy prices after a ceasefire in the Iran war, a survey by Lloyds showed on Friday.
Expert Insights on Confidence Trends
“July’s rise in confidence appears to reflect a more stable global backdrop. With lower energy prices and reduced uncertainty helping to lift firms’ view of the wider economy,” said Hann-Ju Ho, senior economist at Lloyds commercial banking.
“If global conditions become more uncertain again, sentiment could react, particularly where firms are still managing cost pressures and competitive conditions.”
Key Findings from the July Survey
Overall Business Confidence
• Firms’ overall confidence rose by 5 points to +49, above its 12-month average of +47 and the highest in four months
Economic Outlook and Trading Optimism
• The net balance in confidence about the wider economy leapt by 11 points to +42 with domestic firms reporting a 22-point increase in confidence to 25%, partly due to stronger demand
• A measure of companies’ optimism about their trading outlook was unchanged at +56
Sector and Size Breakdown
Small Business Sentiment
• Smaller businesses with turnover below £1 million ($1.34 million) reported a strong increase in sentiment
Manufacturing Sector Confidence
• Confidence among manufacturing companies showed a 14-point rise to +47 in July, above its 12-month average of +45
Survey Methodology and Additional Information
• Lloyds’ data was based on online polling by Ipsos of 1,200 businesses with annual sales of at least £250,000, conducted from July 1 to July 16.
($1 = 0.7473 pounds)
(Reporting by Suban AbdullaEditing by William Schomberg)
