LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

UK companies' optimism on economy slips to six-month low: Lloyds

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Mon, Jul 31, 2017
09:39 am
Reuters

British businesses are their least optimistic about the economy in six months and their overall confidence levels remain slightly below average, a survey showed on Monday, adding to a lacklustre outlook for the economy.

Lloyds Bank said its survey pointed to moderate growth although there had been some improvement from a month earlier, just after Prime Minister Theresa May unexpectedly failed to win a parliamentary majority in a national election.

"Confidence remains just below the long-term average and is consistent with a moderately positive pace of economic expansion," said Hann-Ju Ho, a senior economist for Lloyds.

Last month`s poll was based on responses from before and after Britain`s June 8 election. It showed a small rise in overall business confidence but a big drop in businesses` assessment of the health of the economy.

That assessment of the economy weakened again when businesses were polled between July 17 and 21, and they said they planned to increase staff numbers by less than before.

Official data last week showed the economy made its slowest start to the year since 2012, with growth of just 0.3 percent in the three months to June compared with the first quarter of 2017, barely half Britain`s long-run average growth rate.

With economic growth soft, wages rising only slowing and big uncertainties remaining about how Britain will leave the European Union, the Bank of England is unlikely to raise interest rates from a record low 0.25 percent on Thursday.

Unemployment in Britain is at its lowest since the 1970s but the Brexit vote in June last year led to a sharp drop in the value of sterling, increasing inflation and eroding consumers` disposable income this year.

The data from Lloyds showed increased optimism among manufacturing and construction firms, echoing other business surveys but which has yet to appear in the official figures. Consumer services companies also did better, but professional services firms reported less good news.

More firms also said they were raising prices. Consumer price inflation hit its highest in nearly 4 years in May at 2.9 percent. Although it has since fallen, many economists expect it to rise again.

Separately on Monday, the Federation of Master Builders said the fall in the exchange rate was causing the prices of materials to soar, squeezing margins for a third of small builders and forcing nearly a quarter to raise prices.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range; says global markets, Q4 results to drive street

Expert recommends BUY ACC with price target of Rs 2100, stop-loss Rs 1850

Aditi Rao Hydari: I am dying to go back to theatres

Covid 19: Railways to fine Rs 500 for not wearing face masks in rail premises, trains

Petrol, Diesel Price Today – Rates unchanged on Sunday in 4 metros; Do this to get latest prices in Delhi-NCR, Mumbai, Kolkata and Chennai

SBI three-fold strategy for PPF, small saving schemes: Income tax rebate, Interest rates on deposits and more

iPhone game for kids secretly turns into casino

Glenmark Pharma share price: Expert says HUGE value unlocking; reveals two BUY targets

India Covid 19 cases today: 1341 deaths, over 2.34 lakh coronavirus cases in 24-hour

GOOD NEWS! Modi Govt slashes Remdesivir MRP by half, with retro-effect—This is how much it will cost you now

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved