Growing confidence for economic recovery
Growing confidence for economic recovery
Monday 18th January 2010
Businesses are considerably more optimistic about the country's economic prospects compared to this time last year, a new survey from Lloyds TSB has found.The latest Corporate Markets Business Barometer shows that although business confidence dropped last month, it was still steeply higher than this time last year and figures remain above the survey average.
The survey measures a monthly opinion poll of views from firms about the outlook for the economy.
Figures showed that around half of businesses, 52 per cent, said that they were more optimistic than three months ago and 19 per cent said they were pessimistic - totalling in 33 per cent.
Last month in comparison, 67 per cent were more optimistic and 16 per cent were more negative - with a balance of 51 per cent.
Trevor Williams, chief economist, Lloyds TSB Corporate Markets, said "Although confidence levels fell back at the end of the year, the context here is critical.
"Across the board, businesses are now far more optimistic about the economic outlook than they were twelve months earlier."
This small drop in confidence levels, according to Lloyds TSB, is a reminder that the recovery in the economy is likely to be gradual and uneven.
Mr Williams added: "But it is clear that overall optimism amongst firms is still growing."
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