Latest news with #Hann-JuHo
Yahoo
14 hours ago
- Business
- Yahoo
North East business confidence rises - and its 'good news' for job prospects
Business confidence in the North East rose six points during May to 65 percent, according to the latest figures. The latest Business Barometer from Lloyds, show firms in the region reported higher confidence in their own business prospects, up 10 points at the same percentage. When combined with their optimism in the economy, which increased by two points to 65 percent, this gives a headline confidence reading of 65 percent. This was the second-highest reading in the UK in May, after the East Midlands at 66 percent. The North East businesses identified their top target areas for growth in the next six months as investing in their team (54 percent), introducing new technology (47 percent), and entering new markets (39 percent). Martyn Kendrick, regional director for the North East at Lloyds, said: "Business confidence has risen for a second month in a row, and it's particularly good to see that this has been driven by a brighter outlook from businesses in both their own prospects and the wider economy. "North East firms will have their sights set on translating this confidence into action, and we'll be ready to support them in those next steps – whether those involve investments in their people, expansion into new markets or the introduction of new technology." The Business Barometer, which surveys 1,200 businesses monthly, has been running since 2002 and provides early signals about UK economic trends both regionally and nationwide. Overall, UK business confidence increased 11 points in May to 50 percent – its highest level since August 2024. Firms' optimism in their own trading prospects strengthened six points to 56 percent, while their confidence in the wider economy also climbed 16 points to 44 percent. Hann-Ju Ho, senior economist at Lloyds Commercial Banking, said: "The rebound in business confidence suggests that firms might be in a stronger position for the next quarter. "The rise in confidence is driven by a sharp increase in economic optimism, reflecting the recovery in financial markets amid more promising prospects for potential global trade agreements. "Equally as encouragingly is the fact that trading prospects, wage expectations, and hiring intentions also saw improvements this month. "The positive trends in these metrics are important signals for potential growth and resilience in the business community and the wider economy."
Business News Wales
a day ago
- Business
- Business News Wales
Welsh Business Confidence Rises as More Firms Plan to Hire
Welsh Business Confidence Rises as More Firms Plan to Hire Business confidence in Wales rose 21 points during May to 36%, according to the latest Business Barometer from Lloyds. Companies in Wales reported higher confidence in their own business prospects month-on-month, up 28 points at 52%. When taken alongside their optimism in the economy, up 14 points to 21%, this gives a headline confidence reading of 36% (vs 15% in April). A net balance of 23% of businesses in the country also expect to increase staff levels over the next year, up 28 points on last month. Looking ahead to the next six months, Welsh businesses identified their top target areas for growth as introducing new technology, such as automation or AI (45%), entering new markets (39%), and evolving their offering, for example by introducing new products or services (35%). The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide. National picture Overall, UK business confidence increased 11 points in May to 50% – its highest level since August 2024. Firms' optimism in their own trading prospects strengthened six points to 56%, while their confidence in the wider economy also climbed 16 points to 44%. The East Midlands was the most confident UK nation or region in May (66%), followed closely by the North East (65%). Sector Insights Construction firms' confidence rose to a nine-month high of 56%, while those in the service sector reported a one-year high of 54%. Manufacturing confidence also rose by two points to 40%. However, retail confidence fell by five points to 40%, the lowest level since January this year. Sam Noble, regional director for Wales at Lloyds, said: 'It's great to see business leaders in Wales increasingly confident about their prospects and the wider economy. 'Firms up and down the country are setting out clear plans to drive further growth, from investing in technology or launching new products or services, and we'll be ready with our support to help them take the next steps on their journey.' Hann-Ju Ho, Senior Economist, Lloyds Commercial Banking, said: 'The rebound in business confidence suggests that firms might be in a stronger position for the next quarter. The rise in confidence is driven by a sharp increase in economic optimism, reflecting the recovery in financial markets amid more promising prospects for potential global trade agreements. 'Equally as encouraging is the fact that trading prospects, wage expectations and hiring intentions also saw improvements this month. The positive trends in these metrics are important signals for potential growth and resilience in the business community and the wider economy. While we know that fluctuations do occur month on month and the global economic outlook remains uncertain, this month's increase in confidence is an encouraging sign.'
The National
5 days ago
- Business
- The National
Scotland business confidence higher than UK average
The Bank of Scotland's Business Barometer shows confidence in Scotland rose 12 points during May to 52%, compared to overall UK business confidence which rose by 11 points to 50%. This represents a 12% increase in confidence in Scotland compared to April. While companies in Scotland reported lower confidence in their own business prospects month-on-month, down four points at 57%, optimism in the economy rose 29 points to 48%, which analysts said 'gives a headline confidence reading of 52%'. READ MORE: 'Do something!': Question Time audience member in fiery row with Labour MP on Israel The Business Barometer, which surveys 1200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide. Overall, UK business confidence increased 11 points in May to 50% – its highest level since August 2024. Firms' optimism in their own trading prospects strengthened six points to 56%, while confidence in the wider economy also climbed 16 points to 44%. In a six-month forecast, Scottish businesses identified target areas for growth as evolving their offering, for example by introducing new products or services (56%), investing in their team, for example through training (48%) and introducing new technology, for example AI and automation (36%). The East Midlands in England was the most confident area in the UK's nations and regions in May (66%), followed closely by the north east of England (65%). Martyn Kendrick, Scotland director at Bank of Scotland Commercial Banking, said: 'Scottish business confidence has not only continued to rise, but has now remained above the UK national average for a sixth month in a row. 'Our country's businesses are setting out clear plans for growth, with more firms planning to take steps such as launching new products and services than anywhere else in the UK. 'This reflects a business community that has innovation and ambition in its DNA. We'll continue to support local businesses as they turn their plans into action.' READ MORE: Gaza ceasefire talks continue as Israel issues forced displacement orders Hann-Ju Ho, senior economist at Lloyds Commercial Banking, said: 'The rebound in business confidence suggests that firms might be in a stronger position for the next quarter. 'The rise in confidence is driven by a sharp increase in economic optimism, reflecting the recovery in financial markets amid more promising prospects for potential global trade agreements. 'Equally as encouraging is the fact that trading prospects, wage expectations and hiring intentions also saw improvements this month. The positive trends in these metrics are important signals for potential growth and resilience in the business community and the wider economy. 'While we know that fluctuations do occur month on month and the global economic outlook remains uncertain, this month's increase in confidence is an encouraging sign.'
The Herald Scotland
6 days ago
- Business
- The Herald Scotland
Business confidence in Scotland ‘higher than UK average' in May
Confidence in Scotland rose 12 points during May to 52%, according to the Bank of Scotland's Business Barometer, compared to 40% in April. While companies in Scotland reported lower confidence in their own business prospects month-on-month, down four points at 57%, optimism in the economy rose 29 points to 48%, which analysts said 'gives a headline confidence reading of 52%'. The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide. Overall, UK business confidence increased 11 points in May to 50% – its highest level since August 2024. READ MORE: Scotland's food and drink exports more than six times those of England per head 'Scotland's oldest whisky family' appoints new distillery chief Green light for new hotel at Scottish shopping centre site Firms' optimism in their own trading prospects strengthened six points to 56%, while confidence in the wider economy also climbed 16 points to 44%. In a six-month forecast, Scottish businesses identified target areas for growth as evolving their offering, for example by introducing new products or services (56%), investing in their team, for example through training (48%) and introducing new technology, for example AI and automation (36%). The East Midlands was the most confident region in May (66%), followed closely by the north-east of England (65%). Martyn Kendrick, Scotland director at Bank of Scotland Commercial Banking, said: 'Scottish business confidence has not only continued to rise, but has now remained above the UK national average for a sixth month in a row. 'Our country's businesses are setting out clear plans for growth, with more firms planning to take steps such as launching new products and services than anywhere else in the UK. 'This reflects a business community that has innovation and ambition in its DNA. We'll continue to support local businesses as they turn their plans into action.' Hann-Ju Ho, senior economist at Lloyds Commercial Banking, said: 'The rebound in business confidence suggests that firms might be in a stronger position for the next quarter. 'The rise in confidence is driven by a sharp increase in economic optimism, reflecting the recovery in financial markets amid more promising prospects for potential global trade agreements. 'Equally as encouraging is the fact that trading prospects, wage expectations and hiring intentions also saw improvements this month. The positive trends in these metrics are important signals for potential growth and resilience in the business community and the wider economy. 'While we know that fluctuations do occur month on month and the global economic outlook remains uncertain, this month's increase in confidence is an encouraging sign.' Paul Kempster, managing director for commercial banking coverage at Lloyds Business and Commercial, said: 'The jump in business confidence for our regions and nations is encouraging. 'It's great to see that across many metrics, businesses are more hopeful for the future and are backing themselves for success in 2025. 'The East Midlands in particular saw the highest confidence levels at 66%, the highest the region has seen since 2018. 'As business confidence regains, we are committed to support businesses with a range of financial services to help them to seize opportunities and achieve their growth ambitions.' Show less
STV News
6 days ago
- Business
- STV News
Business confidence in Scotland ‘higher than UK average' in May
Business confidence in Scotland rose to higher than the UK national average in May, at 52%. Overall UK business confidence rose 11 points in May to 50% – the highest level in nine months. Confidence in Scotland rose 12 points during May to 52%, according to the Bank of Scotland's Business Barometer, compared to 40% in April. While companies in Scotland reported lower confidence in their own business prospects month-on-month, down four points at 57%, optimism in the economy rose 29 points to 48%, which analysts said 'gives a headline confidence reading of 52%'. The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide. Overall, UK business confidence increased 11 points in May to 50% – its highest level since August 2024. Firms' optimism in their own trading prospects strengthened six points to 56%, while confidence in the wider economy also climbed 16 points to 44%. In a six-month forecast, Scottish businesses identified target areas for growth as evolving their offering, for example by introducing new products or services (56%), investing in their team, for example through training (48%) and introducing new technology, for example AI and automation (36%). The East Midlands was the most confident region in May (66%), followed closely by the north-east of England (65%). Martyn Kendrick, Scotland director at Bank of Scotland Commercial Banking, said: 'Scottish business confidence has not only continued to rise, but has now remained above the UK national average for a sixth month in a row. 'Our country's businesses are setting out clear plans for growth, with more firms planning to take steps such as launching new products and services than anywhere else in the UK. 'This reflects a business community that has innovation and ambition in its DNA. We'll continue to support local businesses as they turn their plans into action.' Hann-Ju Ho, senior economist at Lloyds Commercial Banking, said: 'The rebound in business confidence suggests that firms might be in a stronger position for the next quarter. 'The rise in confidence is driven by a sharp increase in economic optimism, reflecting the recovery in financial markets amid more promising prospects for potential global trade agreements. 'Equally as encouraging is the fact that trading prospects, wage expectations and hiring intentions also saw improvements this month. The positive trends in these metrics are important signals for potential growth and resilience in the business community and the wider economy. 'While we know that fluctuations do occur month on month and the global economic outlook remains uncertain, this month's increase in confidence is an encouraging sign.' Paul Kempster, managing director for commercial banking coverage at Lloyds Business and Commercial, said: 'The jump in business confidence for our regions and nations is encouraging. 'It's great to see that across many metrics, businesses are more hopeful for the future and are backing themselves for success in 2025. 'The East Midlands in particular saw the highest confidence levels at 66%, the highest the region has seen since 2018. 'As business confidence regains, we are committed to support businesses with a range of financial services to help them to seize opportunities and achieve their growth ambitions.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
