The deployment of Jabs is a shot in the arm for businesses, according to an optimistic UK.
BUSINESS CONFIDENCE IS AT AN ALL-TIME HIGH, as UK companies predict better commercial prospects in the future.
The vaccine distribution and the lifting of lockdown restrictions boosted optimism by six percentage points to 36%, the highest level since April 2017.
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According to the latest Lloyds Bank Business Barometer, economic confidence increased by six points to 38 percent, reversing a modest drop in July.
Nine of the twelve UK regions and nations reported an increase in confidence, with the North-west leading the way with 64 percent.
However, wage growth estimates have risen to a three-year high, with more than a third of employers forecasting increases of at least 2% in the coming year.
Companies expecting three percent or higher salary increases increased five percentage points to 17 percent, a new high since the subject was first asked in 2018.
Despite supply bottlenecks and inflation fears, confidence in construction, manufacturing, and services was “notably” high, however retail optimism gained only two points to 34%, well below its May peak.
Price expectations for products and services have reached their highest point since December 2017, with 44% of businesses planning to raise prices in the coming year.
Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking, said the four-year high “tells an optimistic message about the country’s recovery.”
“This confidence is fueled by the vaccination rollout’s sustained success, the elimination of lockdown limits, and changes to self-isolation rules,” he added.