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UK business confidence hits highest since March, Lloyds says
Lloyds said its index rose 4 points to +53%, while the share of firms planning price increases fell to 51%, its lowest since 2022.
On Friday, Lloyds reported that British business confidence rose 4 points to +53% in August, reaching its highest level since March and surpassing the 12-month average of +47%.
Optimism about the wider economy rose 7 points to +49%, well above the 12-month average of +37%, driving the index higher as companies reported stronger customer demand.
The Lloyds survey, conducted by Ipsos among 1,200 British companies with annual sales of at least £250,000, aligns with S&P Global data from last week showing the fastest growth in six months.
Firms planning to raise prices in the next 12 months fell 3 percentage points to 51%, the lowest level since 2022, potentially easing pressure on the Bank of England.
Amanda Murphy, chief executive of Lloyds Business and Commercial Banking, said businesses report "growing confidence in their own trading outlook, all of which will be helping to support investment and growth plans.