Lloyds Bank reports UK business morale falls to 17-month low
by@Reuters
Summary
UK business morale has dropped to a 17-month low, according to the latest Lloyds Bank monthly business confidence index, which fell by 12 points in September to +41%, below the average of +47% from the past year. The decline reflects waning optimism about the economy, which decreased by 18 points to +31%, and a fading trading outlook among firms, which fell to +50%, also under the 12-month average. This downturn in sentiment comes amid various economic uncertainties, leading to a slight increase in the percentage of businesses planning to raise prices within the next year, highlighting ongoing concerns over inflation. The data was gathered through an Ipsos survey involving 1,200 UK businesses with annual sales exceeding £250,000.
Analysis
Ipsos: Ipsos is an international market research firm specializing in surveys, polling, and data analytics for clients across sectors. It partnered with Lloyds Bank to conduct the fieldwork for the latest business confidence index. The survey captured views from a broad sample of British companies during the first half of September. Lloyds Bank: Lloyds Bank is a leading UK-based financial services group providing banking, insurance, and wealth management to personal and business customers. It regularly publishes the Lloyds Bank Business Confidence Index, a key gauge of UK corporate sentiment derived from monthly surveys. The September report highlighted weakening optimism across firms of various sizes. Suban Abdulla: Suban Abdulla is a financial journalist covering UK economic developments for Reuters. She reported the details of the Lloyds Bank survey showing the decline in business morale. Her work focuses on data-driven stories about corporate and macroeconomic trends. David Milliken: David Milliken is a Reuters editor specializing in UK and European economic coverage. He edited the article on the Lloyds Bank business confidence index. His role ensures accuracy and clarity in reporting on market-moving data releases. Price Outlook: More companies are preparing to implement price increases in the year ahead. Business Sentiment: UK corporate optimism has softened noticeably in recent months amid ongoing economic uncertainties.
Categories
macropolitics