British Business Confidence Improving

A survey showed that British business confidence has increased but remains well below its usual levels as the economy struggles to cope with social distancing and employers prepare to cut jobs.

The Lloyds Bank’s corporate measure rose eight points to -14, the largest monthly rise in three years and optimism about the outlook for the economy and trade showed similar increases.

The low levels of confidence, accompanied by the largest contraction of the economy ever between April and June of two islands when it contracted by 20%, mean that the shape of any recovery remains largely cloudy, said Han-Ju Ho, an economist at Lloyds Bank.