The Conservatives received a boost last night after data showed business confidence hit an eight-year high this month, as business owners believe the economy has turned a corner.
Figures from Lloyds Bank’s business barometer – a widely followed confidence survey – show signs of positive economic growth.
It comes as Prime Minister Rishi Sunak and Chancellor Jeremy Hunt hope to convince the public they can steer the economy towards brighter days.
Confidence increased eight points (to 50 percent), a level last surpassed in November 2015.
Lloyds said this was mainly because businesses were feeling better about their business prospects and the economy.
Recovery: New Lloyds Bank Business Barometer figures – a widely followed employee confidence survey – show signs of positive economic outbreaks
Optimism about the economy rose to 46 percent, the highest since September 2021.
Hann-Ju Ho, senior economist at commercial bank Lloyds, said: ‘These results highlight a notable improvement.
Across all sectors, there were strong and broad improvements in services and construction.’
It comes as the Office for National Statistics said cost increases for UK households slowed in the latest quarter.
Household costs rose 4.4 percent, a slower rate compared to the annual rate of 5.3 percent in January 2024.