Latest news with #businessconfidence
Yahoo
2 days ago
- Business
- Yahoo
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. 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
Bloomberg
2 days ago
- Business
- Bloomberg
UK Business Confidence Hits 9-Month High in Boost for Starmer
A gauge of UK business confidence rose to a nine-month high, climbing back to a level not seen since soon after Prime Minister Keir Starmer first took power, as markets rebounded and trade tensions eased with the US. The Lloyds Business Barometer sentiment gauge rose to 50 in May, the highest since August, according to a survey released Friday. The 11-point jump erased the drop seen in April, when US President Donald Trump's tariff hikes sowed turmoil in financial markets and darkened the economic outlook.
Daily Mail
2 days ago
- Business
- Daily Mail
Business confidence hits nine-month high in May as 40% of firms say they'll hire more staff
A survey of business owners showed that confidence increased to a nine-month high in May, as financial markets recovered and trade tensions calmed. Lloyds bank's latest Lloyds Business Barometer shows a jump of 11 points to 50 per cent, the highest point since August 2024. In April the index, which surveys 1,200 firms with annual turnover above £250,000, had recorded a 10-point drop. Hann-Ju Ho, senior economist at Lloyds Commercial Banking, said there had been a 'sharp increase in economic optimism, reflecting the recovery in financial markets amid the easing of global trade tensions.' As a result, some 40 per cent of businesses said they expect to increase their staffing levels, up three points from April, while 34 per cent said they expected pay growth of three per cent or higher. Ho added: '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.' This boost came after economic optimism also increased, rising 16 points, while trading prospects also grew amid signs of progress in global trade agreements. The service sector reached its highest confidence point for the past year, passing 54 per cent, while construction hit a nine-month high of 56 per cent. Manufacturing rose two points to 40 per cent. Retail slumped, however, falling five points to 40 per cent, its lowest point since January. The rise in business confidence was seen across the UK, with nine of the UK's twelve regions seeing stronger confidence, most prominently in Northern Ireland, the East Midlands and the South West. In particular, the East Midlands saw its highest levels of business confidence since 2018, reaching 66 per cent for May. Paul Kempster, managing director for commercial banking coverage, 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. '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.'
The Independent
2 days ago
- Business
- The Independent
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.'
RNZ News
3 days ago
- Business
- RNZ News
Business confidence drops three months in a row
An EFTPOS card being swiped at a terminal. Photo: 123RF Business confidence has retreated for a third month in a row as businesses struggle to recover costs, and uncertainty over trade policies overshadowed signs of an improving economy. ANZ's monthly sentiment headline measure fell 12 points to a net 37 percent of firms expecting an improvement in the year ahead. While the more closely followed measure of businesses' own outlooks dropped 13 points to 35 percent. Chief economist Sharon Zollner said the survey still pointed to a recovering economy, but with headlines obscuring some of the positives. "The economy is recovering, but it's still hard going here and now, and that it's still difficult to pass cost increases through to prices." Zollner said a slight rise in inflation expectations to 2.71 percent was marginal, while firms expected a 2.5 percent rise in costs over the next few months but to be able to raise their prices by 1.7 percent. "Overall, there are not any obvious grounds for the RBNZ to be overly concerned about the recent tick higher in some surveys of inflation expectations." The survey showed firms expecting weaker profits, to invest less and pull back on hiring. Zollner said there was plenty of scope for volatility sparked by tariff policies to change firms' opinions and activity, but for the time being the Reserve Bank had scope for more rate cuts to help the economy. "We expect the RBNZ will ultimately take the Official Cash Rate to a low of 2.5 percent to shore up the economic recovery as it faces into global headwinds."
