- July 12, 2021
- Posted by: Stratford Team
- Category: Business
UK business confidence has jumped as firms anticipate the lifting of lockdown restrictions later this month, despite concerns over the rise in Covid-19 infections.
A survey by accountancy and business advisory firm BDO found that firms were their most optimistic since 2005 in June. Manufacturing optimism rose sharply, due to improved global economic outlook driven by the Covid-19 vaccine rollout this year.
“Businesses are clearly looking forward to the lifting of restrictions on the 19 July. After a gruelling year of unpredictable change, the ending of restrictions is timely, although rising Covid-19 cases still leave an element of uncertainty,” said Kaley Crossthwaite, partner at BDO.
Companies also reported that inflation pressures had hit a four-year high, with supply chain disruption due to Brexit, the pandemic, and the Suez Canal blockage earlier this year pushing up costs.
Two-thirds of UK private sector firms expect an increase in business…
