British business confidence hits four-month high in July, Lloyds survey shows

UK business confidence Lloyds survey energy prices manufacturing confidence Iran war ceasefire

A Lloyds Banking Group survey of 1,200 UK companies with annual sales of at least £250,000, conducted online by Ipsos from July 1 to July 16, shows business confidence rising to its highest level in four months. Overall confidence increased by five points to +49, above the 12‑month average of +47. The net balance of confidence about the wider economy jumped 11 points to +42, while manufacturing firms' confidence rose 14 points to +47. Smaller firms with turnover below £1 million reported a strong increase in sentiment, and the measure of optimism about trading outlook remained unchanged at +56.

Senior economist Hann‑Ju Ho said the improvement reflects a brief fall in energy prices after a cease‑fire in the Iran war, creating a more stable global backdrop. He cautioned that renewed uncertainty could reverse the trend, especially for firms still managing cost pressures and competitive conditions.

Entities: Hann‑Ju Ho · Ipsos · Lloyds Banking Group · United Kingdom

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 7 SOURCES] Manufacturing companies' confidence rose 14 points to +47 in July. (Lloyds survey data)
[● 7 SOURCES] The net balance of confidence about the wider economy increased by 11 points to +42. (Lloyds survey data)
[● 7 SOURCES] Small businesses with turnover below £1 million reported a strong increase in sentiment. (Lloyds survey data)
[● 7 SOURCES] British businesses' overall confidence rose by 5 points to +49 in July 2024. (Lloyds survey data)
[● 7 SOURCES] Hann‑Ju Ho is senior economist at Lloyds commercial banking and commented on the stability of the global backdrop. (Direct quote in article)
[● 7 SOURCES] The measure of companies' optimism about their trading outlook remained unchanged at +56. (Lloyds survey data)
[● 7 SOURCES] The rise in confidence is linked to a brief fall in energy prices after a cease‑fire in the Iran war. (Lloyds senior economist Hann‑Ju Ho)
[● 7 SOURCES] The survey was conducted online by Ipsos with 1,200 businesses having annual sales of at least £250,000, between July 1 and July 16. (Lloyds survey methodology)