'It can be difficult' - Business confidence drops across East of England as Brexit nears
PUBLISHED: 09:20 05 August 2019 | UPDATED: 09:20 05 August 2019
Business confidence in the East of England has fallen due to ongoing Brexit uncertainty, industry experts have warned.
According to the latest Business Barometer from Lloyds Bank, confidence dropped by four points between June and July to 9%.
Firms' confidence in their own business prospects also dropped from 29% to 18% while economic optimism stood at 0% - four points above June.
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Across the region 26% of businesses said they felt Brexit was having a negative impact on their expectations for business activity, up nine points on a month ago.
"It can be difficult to plan ahead amid ongoing uncertainty", explained David Atkinson, Lloyds' regional director for the East of England.
"But many businesses remain confident about their prospects and are prepared to back that by creating new jobs.
"Whatever the coming months bring, we will remain by the side of businesses in the East of England, ready to give them the support they need to grow."
The Business Barometer questions 1,200 business each month and provides early signal about UK economic trends both regionally and nationwide.