South West business confidence declined sharply in September, according to the latest Business Barometer from Lloyds Bank Commercial Banking. Business confidence in the region fell 12 points during September to –1 per cent.
Companies reported lower confidence in their business prospects at 10 percent. When taken alongside their views of the economy overall, this gives an overall confidence of –1 per cent.
The findings bucked the national trend, where overall confidence rose one point to two percent as firms’ confidence in their own prospects climbed five points to 13 percent.
Businesses in the East Midlands showed the most confidence, at 15 percent. Least confident were businesses in Scotland, at –18 percent.