A new nationwide survey has revealed that London businesses rank among the most confident in the UK.
Lloyds Bank’s latest Business Barometer assessed business prospects and economic optimism across the country in February, finding that overall, business confidence had fallen slightly from 35 to 33 per cent.
However, the survey – which also gives an indicator of business confidence on a regional basis – found that London maintained its high level of business confidence last month, at an impressive 50 per cent.
Britain’s capital was closely followed by the East Midlands and North East England, both at 42 per cent.
However, confidence in other regions such as the West Midlands, Wales and Yorkshire and the Humber fell significantly.
In terms of sector, the survey notes that Britain’s manufacturing sector reported the highest level of overall business confidence, at 41 per cent.
The findings echo the results of a separate business barometer published in recent days by manufacturing consultancy group SWMAS, which found that 72 per cent of UK manufacturers were eyeing up strong sales growth over the next six months, while a further 59 per cent are confident that they will achieve increased profits.