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UK business confidence on the slide, study shows

email this aricle - UK business confidence on the slide, study shows  - 6 June 2012 print this article - UK business confidence on the slide, study shows  - 6 June 2012
UK business confidence on the slide, study shows
Trevor Williams - Chief Economist (Wholesale Banking & Markets), Lloyds Banking Group plc

Positive sentiment among businesses across the UK declined dramatically last month due to the ongoing problems in the eurozone, a new study has revealed.

The latest Lloyds Bank Wholesale Banking and Markets Business Barometer released today (6 June) shows that company confidence dipped to minus 21 per cent in May.

This represents a sharp fall of 47 percentage points from the positive level of 26 per cent recorded one month previously and this trend is

largely because leaders now harbour greater concerns about the state of the British economy as problems on the continent rumble on.

During May, doubts about the crisis intensified due to the extent of Spain and Greece's financial strife.

And Trevor Williams, chief economist at Lloyds Bank Wholesale Banking & Markets, commented: "The renewed concern around the eurozone is clearly having an impact on businesses' sentiment towards prospects for the UK economy and, to a lesser extent, to their own prospects."

By Asim Shah

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