North East firms 'leading the UK in confidence'

North East business confidence ran counter to the overall UK trend, according to the Lloyds Business Barometer

- TOM KEIGHLEY Business reporter [e-mail]

OPTIMISM about the economy and trading prospects has put North East firms at the top of a UK table for business confidence.

Data collected across April shows regional businesses reported higher confidence in their own business prospects month-on-month, up 18 points at 55%. Optimism in the economy was up 14 points to 63%, giving an overall confidence reading of 59%, compared with 43% in March.

The findings from the Lloyds Business Barometer show that, despite global economic challenges, North East confidence ran counter to the overall UK trend which saw sentiment fall 10 points in April to 39%. A net balance of 68% of regional firms also expect to increase staff levels over the next year, up 19 points on last month.