Growth in doubt as North West confidence falls

Business confidence edged down in the North West during August as optimism about the wider economy and Brexit fell further.

Tuesday, 4th September 2018, 10:21 am
Updated Wednesday, 5th September 2018, 11:31 am
Martyn Kendrick

That’s according to the latest Business Barometer from Lloyds Bank Commercial Banking.

The fall in confidence has impacted firms’ job creation plans, with fewer businesses in the region, 22 per cent, expecting to hire more staff during the next year than in July, 30 per cent.

Optimism about the wider economy fell by seven points to 33 per cent.

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However, businesses remain relatively upbeat about their own prospects with confidence levels increasing one point to 36 per cent.

Martyn Kendrick, regional director for the North West at Lloyds Bank Commercial Banking, said: “Across the region, we’re seeing businesses scaling back their plans for job growth as uncertainty persists.”

“Despite this small drop in overall optimism, it’s encouraging to see how confident firms are regarding their own trading prospects.