BR100 3,652 Increased By ▲ 27 (0.76%)
BR30 18,615 Increased By ▲ 147 (0.8%)
KSE100 35,373 Increased By ▲ 171 (0.48%)
KSE30 15,281 Increased By ▲ 34 (0.23%)
COVID-19 TOTAL DAILY
CASES 234,509 2691
DEATHS 4,839 77
Sindh 96,236 Cases Today
Punjab 82,669 Cases Today
Balochistan 10,841 Cases Today
Islamabad 13,557 Cases Today
KP 28,236 Cases Today
Business

UK businesses turn less negative for first time since January: survey

  • Business confidence rose by three percentage points to its highest level since March but remained deeply in negative territory at -30%, the survey showed.
June 30, 2020

LONDON: Confidence among British businesses improved in June for the first time since January ahead of the latest relaxation of the country’s coronavirus lockdown, according to a survey published by Lloyds Bank on Tuesday.

Business confidence rose by three percentage points to its highest level since March but remained deeply in negative territory at -30%, the survey showed.

Slightly fewer companies expected to lay off staff - 41% compared with 44% in May - and the proportion planning a pay freeze edged down.

“While the results suggest the economy may be starting to see some improvement, trading conditions remain difficult for most firms as the majority are still experiencing disruption to supply chains,” said Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking.

Confidence among construction firms rebounded strongly by 30 points, followed by smaller improvements for retailers and manufacturers while services reported a fall as the hospitality and education sectors continued to face lockdown restrictions.

The survey was conducted between June 1 and June 15, after the reopening of non-essential retailers but before Prime Minister Boris Johnson said on June 23 that bars, restaurants and other consumer-facing businesses could reopen from July 4.