Business confidence in the south east is on the rise, according to the latest research.

The Lloyds Bank Business Barometer for December 2019 shows overall confidence in the region has risen eight points in the past month to 6%.

Firms’ confidence in their own business prospects was 16%, compared with 5% in November, while a net balance of 6% of businesses in the region expect to hire more staff during the next year.

The Business Barometer questions 1,200 businesses monthly and provides early signals about UK economic trends both regionally and nationwide.

This month’s survey was carried out before the result of the General Election was known.

Across the UK, overall confidence edged up one point to 10% as firms’ confidence in their own prospects rose six points to 18%, although their optimism in the economy fell to 2%.

Phil Kirk, regional director for the south east at Lloyds Bank Commercial Banking, said: “After a dip in November, it’s encouraging to see the region’s overall business confidence increase again this month, and firms’ intent to bolster their workforce remain intact."

Across the region, a net balance of 17% of businesses said they felt that the UK’s exit from the European Union was having a negative impact on their expectations for business activity, up five points on a month ago.

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