Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

UK business confidence slips in September: Lloyds Bank

by Uma
0 comment

UK business confidence slips in September: Lloyds Bank

LONDON (Reuters) – British business confidence declined in September as optimism about the economic outlook faded, a survey showed on Friday, adding to signs of a slowdown in the economy.

The Lloyds Bank Business Barometer, which surveys around 1,200 companies across the economy, fell to 36% from August’s 18-month high of 41%.

While painting a less downbeat picture than other indicators like the S&P Global PMI, the decline in the Lloyds barometer fitted with other signs of a slowing economy – something the Bank of England highlighted as it left interest rates on hold last week.

Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking, said the BoE’s decision – taken after the survey was conducted – could underpin business confidence in the coming months.

“Although the economic environment remains uncertain with inflation and interest rate pressures playing their part, the recent decision by the Bank of England…is likely to help businesses feel more upbeat about the future,” he said.

More details about the recent performance of Britain’s economy are due at 0600 GMT when the Office for National Statistics publishes comprehensive growth data for the second quarter.

While Lloyds said its gauge of pricing expectations inched higher in September, hiring intentions cooled. The proportion of companies planning to raise salaries also fell, although remained around the average for the year.

The survey was conducted Sept. 1-15.


(Reporting by Andy Bruce)