Bristol News

South West business confidence rebounds

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Written by: Hannah Baker | Posted 04 April 2019 16:19

South West business confidence rebounds

Confidence among South West companies rebounded last month, according to a business report.

Overall confidence rose to seven per cent – up from six per cent in February – the business barometer from Lloyds Bank Commercial Banking found.

Companies in the region reported higher confidence in their business prospects at 15 per cent, while economic optimism rose 12 points to zero per cent.

Read more: Coffee and spices among South West's most 'popular' exports

Some 10 per cent of businesses in the region now expect to hire more staff during the next year - up one point on last month.

Adam Rainey, regional director for the South West at Lloyds Bank Commercial Banking, said: “It is encouraging to see a bounce-back in confidence among businesses in our region this month, particularly as uncertainty both domestically and globally still lingers.”

Across the region, 18 per cent of businesses said they felt the UK’s exit from the European Union was having a negative impact on their expectations for business activity, down 11 points on a month ago.

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