More firms are expecting to increase capital expenditure
The Lloyds report shows that almost a third of businesses (32 per cent) expect to increase their capital expenditure over the next six months while one in 10 (10 per cent) are planning cutbacks.
This results in a net balance of 22 per cent planning to ramp up investment in the second half of the year, which is an increase of seven points from January.
On a national level, Lloyds said that all company sizes set to do well with confidence improving the most for small businesses.
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Hide AdBusiness confidence has improved the most among companies with annual turnover of below £1m. The net confidence balance for these firms is up 15 points at 49 per cent. The strongest levels of confidence were for firms in the £2-5m and above £15m turnover brackets, both at 58 per cent.