Yorkshire business confidence increases despite Iran war concerns
Business confidence in Yorkshire increased during March despite global economic concerns developing about the impact of the Iran war.
Confidence rose 22 points during March to 62 per cent according to the latest Business Barometer from Lloyds.
Companies in Yorkshire reported higher confidence in their own trading outlook month-on-month, up nine points at 64 per cent. When taken alongside their optimism in the economy, up 35 points to 60 per cent, this gives a headline confidence reading of 62 per cent (vs. 40 per cent in February).
A net balance of 43 per cent of businesses in Yorkshire also expect to increase staff levels over the next year, up 26 points on last month.
The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide. This month’s survey was conducted between March 2 and 16..
Overall, UK business confidence rose 11 points in March to 55 per cent.
Martyn Kendrick, regional director for Yorkshire at Lloyds, said: “As business confidence holds this month, we remain focused on supporting firms in Yorkshire, providing the finance, guidance and expertise they may need.”