In March, business confidence in London increased to 62%, the joint-highest in the UK. While companies showed lowered confidence in their own prospects, optimism regarding the economy saw a rise of six points. A significant 63% of businesses plan to expand staffing in the coming year. The survey collected data from 1,200 businesses and highlighted key growth areas: team investment, technology innovations, and market expansion. Nationally, overall business confidence remained stable at 49%, with differing trends observed across sectors, particularly retail and manufacturing.
London's business confidence continues to climb, with the capital's outlook once again leading the country. Firms are setting out to invest in their workforce and technology.
While companies in London reported lower confidence in their own business prospects month-on-month, their optimism in the economy rose six points to 62%.
A net balance of 63% of businesses in the city also expect to increase staff levels over the next year, up seven points on last month.
Overall, UK business confidence was 49% in March - the same as in February, with sector insights revealing significant differences in confidence across industries.
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