UK business morale hits four-month high in July, Lloyds survey shows
LONDON, July 31 (Reuters) - British businesses turned more confident about the economic outlook earlier this month, reflecting a brief fall in energy prices after a ceasefire in the Iran war, a survey by Lloyds showed on Friday. "July's rise in confi. . .
LONDON, July 31 (Reuters) – British businesses turned more confident about the economic outlook earlier this month, reflecting a brief fall in energy prices after a ceasefire in the Iran war, a survey by Lloyds showed on Friday. “July’s rise in confidence appears to reflect a more stable global backdrop. With lower energy prices and reduced uncertainty helping to lift firms’ view of the wider economy,” said Hann-Ju Ho, senior economist at Lloyds commercial banking. “If global conditions become more uncertain again, sentiment could react, particularly where firms are still managing cost pressures and competitive conditions. ”• Firms’ overall confidence rose by 5 points to +49, above its 12-month average of +47 and the highest in four months• The net balance in confidence about the wider economy leapt by 11 points to +42 with domestic firms reporting a 22-point increase in confidence to 25%, partly due to stronger demand• A measure of companies’ optimism about their trading outlook was unchanged at +56• Smaller businesses with turnover below £1 million ($1. 34 million) reported a strong increase in sentiment• Confidence among manufacturing companies showed a 14-point rise to +47 in July, above its 12-month average of +45• Lloyds’ data was based on online polling by Ipsos of 1,200 businesses with annual sales of at least £250,000, conducted from July 1 to July 16. ($1 = 0. 7473 pounds)(Reporting by Suban AbdullaEditing by William Schomberg)