Concerns amongst businesses about the outlook for the UK and global economy show no signs of receding, with the balance of companies feeling ‘more optimistic' rather than ‘more pessimistic' about the next twelve months dipping to -40, from -31 in May. In total, 22 per cent of companies were more optimistic, while 62 per cent were more pessimistic.
Despite the growing uncertainty about the economic picture in the UK and abroad, businesses remain upbeat about their own trading prospects for the year ahead. The balance of firms who believe their business activity will rise over the next year rose by 8 per cent in June, to 32 per cent.
Trevor Williams, chief economist, Lloyds TSB Corporate Markets, said: "Month on month business confidence in the economy is waning, but so far these worries have not shaken the faith most firms have in their own trading prospects.
"But for now at least, most firms remain in good health and are upbeat about the future."
