East Midlands rises to one of UK’s most confident regions in June

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Business confidence in the East Midlands rose six points during June to 46%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.

Companies in the East Midlands reported higher confidence in their own business prospects month-on-month, up two points at 42%. When taken alongside their optimism in the economy, up nine points to 50%, this gives a headline confidence reading of 46% (vs. 40% in May).

A net balance of 45% of businesses in the region also expect to increase staff levels over the next year, up 24 points on last month.

Looking ahead to the next six months, East Midlands firms identified their top target areas for growth as introducing new technology (42%), investing in their teams, for example through training (37%) and entering new markets (33%).

The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.

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Overall UK business confidence fell nine points in June to a net balance of 41%. However, this was consistent with levels seen during Q1 2024, before the sharp rise in May, and remained above the long-term average (28%).

While businesses reported lower confidence in both their own trading prospects, down

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