East of England businesses are now the least confident in the country
PUBLISHED: 06:00 02 June 2018 | UPDATED: 08:37 02 June 2018
Businesses in the East of England are the least confident in the UK, according to new figures.
The latest business barometer from Lloyds Bank showed overall confidence fell 20 points to 13% – while economic optimism plummeted 40 points to 3%.
While their confidence in their own business prospects rose slightly to 23%, the change in their outlook for the economy brought overall confidence down.
As a result the net balance of businesses in the region who expect to hire more staff in the next year fell by eight points to 21%.
Nationally, overall confidence climbed three points to 35%.
Steve Elsom, East of England regional director at Lloyds Bank Commercial Banking, said: “The ongoing uncertainty, politically and economically, is clearly weighing on businesses’ hiring intentions. But the fact that they remain confident in their own prospects and are still planning for future growth shows how resilient they are.”