Sunny

Sunny

max temp: 18°C

min temp: 12°C

Search

The pigs have arrived. See the latest

Pigs Gone Wild

news here.

East Anglia: Business optimism continuing to build, Lloyds Business Confidence Index survey reveals

06:00 30 June 2014

Steve Elsom, Lloyds Bank Commercial Banking.

Steve Elsom, Lloyds Bank Commercial Banking.

Business confidence in East Anglia has increased strongly since the start of the year, according to the latest Business in Britain report from Lloyds Bank.

The findings of the twice-yearly report, now in its 22nd year, will fuel hopes that the region is well placed for a sustained recovery.

The survey’s key Business Confidence Index tracks businesses’ views of expected sales, orders and profits for the coming six months and presents the overall “balance” of opinion, weighing up the percentage of firms that are positive in outlook against those that are negative.

In this latest report East Anglia’s confidence index has increased by 10 points to 57%, from 47% in the previous survey in January, mainly driven by increasing profits.

Steve Elsom, area director for SME banking in East Anglia for Lloyds Bank Commercial Banking, said: “We hope that this upturn in confidence will lead to a further improvement in economic activity for the second half of 2014 to allow East Anglia businesses to grow and prosper.”

Prospects for firms across East Anglia in the second half of 2014 also look set to continue the sharp rebound in UK economic activity since early 2013.

Almost two-thirds of East Anglia businesses (64%) said that they expect their orders to increase during the second half of the year; compared to only 3% that anticipate a decline. The resulting 61% overall net balance represents a 11 point increase from January 2014.

Similarly, nearly three-quarters businesses (71%) said they think their sales will increase in the next six months, while less than one in 10 (7%) expect a drop, leading to a 64% overall balance a nine point increase from the beginning of the year.

The balance of firms anticipating greater scope for increasing prices over the next six months has decreased by 10 points to 22% while the net balance of firms expecting rising profits has increased to 46%, from 35% in January.

The net balance of businesses expecting to increase their exports over the next six months rose by two points to 54%. Just 3% cent expect their exports to drop in the next six months compared to more than half of businesses (57%) who anticipate an increase.

Over two-fifths (46%) of businesses expect to grow their total exports to Europe during the second half of the year, with 6% expecting a fall. This is an increase from six months ago when the overall balance expecting an increase was 32%.

Almost a third of East Anglia businesses (32%) said that they will increase staff numbers during the second half of the year while 9% said they planned reductions.

The overall net balance of 23% expecting to boost staff numbers is a rise of five points from January this year and a fresh survey high. The increase in the net balance points to further employment gains as the recovery matures.

At the same time, the balance of companies reporting challenges in the recruitment of skilled workers continues with a three point increase to 33%.

The report shows that nearly a third of East Anglia businesses (30%) expect to increase their capital expenditure over the next six months while just 8% are planning cutbacks. This results in a net balance of 23% planning to ramp up investment in the second half of the year, which is an increase of 14 points from January this year.

Steve Elsom added: “It’s encouraging to see that East Anglia businesses are looking to export more and that they feel more bullish about Europe as it emerges from recession. The survey implies that they are eager to invest more in infrastructure and staff, which we hope will result in them developing and growing on the international stage.”

1 comment

  • Oh No !, not another 'optimism' survey ?, John Major tried that one years ago ! "Confidence and Optimism", trouble was we couldn't pay our bills with them !. Lies, Damned Lies and Statistics' !

    Report this comment

    freedomf

    Monday, June 30, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

Spectators enjoying a rainy Ipswich Music Day in 2015.

Thousands of people are expected to flock to Christchurch Park this weekend for one of the most celebrated events in Ipswich’s summer calendar.

Two vehicles have collided in Wickhambrook.

A woman has sustained a minor head injury during a two-vehicle crash in west Suffolk tonight.

Rogue trader fined

A internet rogue trader has been told to pay nearly £51,000 for selling unsafe medical equipment and children’s scooters from his Ipswich warehouse.

Rudimental were at Thetford last night

Two years ago Rudimental were performing on the Pyramid Stage at Glastonbury when it was powered down because an electrically charged storm was exploding overhead.

Traffic lights at Wherstead Road bridge caused chaos.

Network Rail’s top manager in East Anglia has issued an unreserved apology after engineers working for his company brought Ipswich town centre to a standstill on Thursday evening.

Anyone with information is asked to call police on 101.

Help is needed to trace a man who approached a teenage girl as she walked home in Ipswich.

Pigs Gone Wild sculptures being delivered to the streets of Ipswich

This week Suffolk has seen pigs pop up around town, James May officially unveil a new motorcycle museum and ITFC begin their pre-season training. To catch up on all the latest, watch this week’s news in video.

Centennial commemoration of the start of the battle of the Somme at Long Melford War Memorial at Holy Trinity Church.

The great-nephew of a Long Melford soldier who fought at the Battle of the Somme described the “humbling” experience of blowing on the same whistle his ancestor used to send men over the top.

East of England Ambulance Service attended the crash.

Police and ambulance crews attended a two-vehicle crash this afternoon.

Faulkeners Way, in Trimley

Police want to trace a man with a blond quiff who pulled up alongside a 10-year-old boy in black panel van and spoke to him outside a play area in Trimley St Mary.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24