UK business confidence slips lower in May | Forexlive

Lloyds Bank Business Barometer, a measure of sentiment amongst British businesses, fell to 28% in May

• from 33% in April
• May is the first drop in 3 months

• businesses’ optimism about the wider economy fell by six points to 22%
• trading prospects for the next twelve months fell for a second month in a row
• gauge of hiring intentions fell back slightly to 24% in May, from the ten-month high of 27% in April

Lloyd’s comments on the results:

• “The UK has avoided an outright contraction in GDP – indicating a certain amount of underlying resilience in the economy,”
• the economic environment remains challenging, compounded by stubborn inflation and higher wage pressures.