Yorkshire and the Humber business confidence back in 'positive territory' for 2017

Business confidence in Yorkshire and the Humber has recorded the highest reading since Q4 2015, according to a recent report.

The latest ICAEW Business Confidence Monitor (BCM) shows that businesses confidence rose to +11.2 throughout the region in Q2 2017.

The report also illustrates that input prices increased from 0.8% a year ago to 2.7% in Q2 this year, and that selling prices are also up 1.6%, compared to 0.6% 12 months ago.

However, capital investment growth is expected to slow from 4.4% to 0.9% in the year ahead.

Keith Proudfoot, ICAEW Yorkshire and Humber director, said: “It’s encouraging to see that business confidence in the Yorkshire and Humber has moved into positive territory, following a difficult 2016.

“Inflation continues to rise and commodity prices are increasing more rapidly than before which means input prices have also risen in the region.

“Businesses indicate they are likely to pass some of these increases on to their customers, with an increase in selling prices, which means that 2017 continues to be a year of counting the pounds and pennies for consumers in Yorkshire and Humber.

“Businesses in the region certainly appear cautious in terms of investment for the year ahead and it is likely some uncertainty will remain as businesses will be waiting to see what happens in the political arena, particularly in relation to how EU negotiations play out.”

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