Monday 19th November 2018
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Slowdown in construction sector knocks business confidence

Business confidence in the East of England fell in February as firms’ faith in their own prospects declined – particularly in the construction sector – in line with national trends. But optimism in the overall economy has picked up in the region, according to a business barometer report from Lloyds Bank Commercial Banking.

The survey showed that firms confidence in their own prospects slumped to 27 per cent, compared with 40 per cent in January although economic optimism rebounded to 25 per cent, up five points on last month. Recruitment plans have become less ambitious with a net balance of 21 per cent of firms in the region expecting to hire more staff over the next year, down seven points on last month. Overall business confidence in the region fell to 26 per cent, compared to 33 per cent nationally. Nationally, manufacturers saw the highest level of overall confidence, overtaking construction, where confidence dropped five points to 37 per cent.

Confidence in consumer services – which includes retail – rose from 27 per cent to 31 per cent. Steve Elsom, regional director for the East of England at Lloyds Bank Commercial Banking, said: “Although overall confidence in the region has dipped slightly since January, with many local firms expecting a decrease in business activity over the next few months, it is positive to hear that economic optimism is up.”

Last Updated ( Wednesday, 28 February 2018 09:27 )

 

Zombie business numbers fall to record low in the region

The share of East of England companies only paying the interest on their debts – so-called ‘zombie’ businesses – has dropped to a record low of just 46,000 fi...

Last Updated ( Thursday, 15 February 2018 10:52 )

New institute at UEA planned to boost productivity

Plans to develop a new Institute of Productivity and an engineering centre at the University of East Anglia to help tackle skills shortages are to be outlined at an e...

Last Updated ( Thursday, 08 February 2018 09:57 )

Colchester launches ambassadors programme to boost investment

Colchester launches ambassadors programme to boost investment

Britain’s oldest recorded town set out its stall in Westminster this week when a group of business people launched the Colchester Ambassadors initiative to promote the bo...

Last Updated ( Thursday, 01 February 2018 09:23 )

Demand for industrial space in the region hots up as office sector ‘flattens’

Demand for industrial property in the East of England is rising sharply and is ‘moderately positive’ for retail space although it has ‘flattened’ in the office ...

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