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UK Business Confidence Hits Four-Year High

Business confidence in the UK rose to its highest level since April 2017 as businesses become increasingly optimistic in their trading prospects.

Posted: 31st August 2021 by Finance Monthly
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According to the Lloyds Business Barometer, confidence increased by six points to 36% in August, while overall economic optimism also climbed 6%, following a slight dip in July. The Lloyds Business Barometer also showed that pay growth expectations reached a three-year high, with over a third of UK businesses expecting rises of at least 2% over the coming 12 months. 

Companies expecting a 3%-plus wage growth jumped by five points to 17%, hitting a record level since the bank first asked the question back in 2018. However, the net balance of companies expecting to up their headcount remains at 18%, the same level as last month. 

Lloyds’ findings demonstrate that confidence has increased in 9 out of the 12 regions and nations of the UK. The North West was up 26 points to 64%, while the East of England was up 14 points to 39%. Scotland also saw increases in confidence, up 34%, while Wales saw an increase of 19%. 

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