London Businesses Say “We’re On The Rise” – Their Confidence Hits a Six‑Month Peak!
According to the newest Lloyds Business Barometer, London has ushered in a sweeping summer of optimism. Even though firms bumped their own trading optimism down just a touch (to 64 %), they’re feeling extra giddy about the economy – now at a bright 56 %.
Quick Take‑away
- Overall confidence in London: 60 % (up from 55 % in January)
- Net of businesses planning to hire: 56 % (a +7‑point jump)
- Top growth targets: training staff (50 %), entering new markets (44 %), AI & automation (40 %)
That’s the best reading the capital’s been getting since August 2024 – blow‑dry style.
What the Numbers Mean
Across the UK, confidence ticked up to 49 % in February, the highest level since that same August. In London, firms’ faith in their own fortunes dipped a tad but stay above the national average.
Geography – Where the Fires are Burning
- North East: 69 % (most hopeful)
- North West and East of England: 61 % each
Sector Snapshot
All four sectors – manufacturing, construction, retail, and services – reported double‑digit confidence boosts.
- Manufacturing: 51 % (+13)
- Construction: 50 % (+14)
- Retail: 51 % (+11)
- Services: 48 % (+10)
Hospitality, in particular, hit the high‑noon of confidence for the first time in months.
Voices From The Front
“Businesses feel buoyed by a better economic outlook. While they’re a bit more cautious about their own trading prospects than last month, the London confidence still dances higher than the UK average,” says Kirsty Sadler, Lloyds’ London regional director.
“We’re here to help firms turn those plans into action – whether that means investing in people, venturing into fresh markets or adopting cutting‑edge tech.”
“It shows UK businesses are sturdy and ready to face tough times,” notes Hann‑Ju Ho, a senior economist at Lloyds Commercial Banking. “Their optimism means they’re piling in on training and tech, which sets them up to catch any uptick in demand and grow even further.”
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