Member Article

Business confidence in East England reaches low

The monthly Lloyds TSB East of England PMI survey and BDO’s Optimism index indicates that business prospects decline this year.

The survey suggests that output and new orders in the private sector economy in the East has dropped from 52.3 in May to 49.3 in June.

The first decline in eight months worries Steve Elsom, area director for Lloyds TSB Commercial in East Anglia, who he said: “With growth having slowed again, the region started to underperform the rest of the UK private sector.” Steve Elsom also predicts that the second half of the year will be difficult.

Moreover, BDO’s Optimism Index indicates that the business performance has fallen for the fourth consecutive month to 93.5 in June, dropping from 95.5 the previous month.

This has been the lowest since December 2011 and for the first time since January, the index has been below the 95.0 growth mark as well.

This was posted in Bdaily's Members' News section by Yu-Chih Lin .