The overall business confidence in Britain has risen significantly in the last six months, according to latest survey by Lloyds Bank. This is a welcome relief for the property sector in the UK.
“The confidence index – an average of respondents’ expected sales, orders and profits over the next six months – increased to 24 per cent, from 12 per cent immediately following the EU referendum vote last year. This is an 18-month high and is in line with the indices’ long-term average of 23 per cent,” the bank said in its report.
The ‘Business in Britain’ report, now in its 25th year, gathers the views of over 1,500 UK companies, predominantly small to medium sized businesses, and tracks the overall “balance” of opinion on a range of important performance and confidence measures, weighing up the percentage of firms that are positive in outlook against those that are negative.
This is an interesting finding for the property sector in the wake of Brexit last year and the polls recently. It is evident from the survey that businesses are anticipating higher sales, increased profits and staffing levels to rise, which is all very positive for the economy. The property sector is bound to feel the cascading effect in the coming months.
Business confidence has risen significantly in the last six months according to the latest Business in Britain report.