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Businesses 'show confidence in UK economy'
30/04/2007
The current rate of healthy economic growth will persist in the UK, according to the chief economist at Lloyds TSB Corporate Markets.
Trevor Williams suggests that firms have been able to increase prices, while investment expenditure has now overtaken consumer spending.
His comments follow the latest business barometer from Lloyds TSB, which highlights firms' optimism in the UK's economy as a whole.
April's barometer indicates that there is increased expectation of trading activity throughout the remainder of the year.
"The sentiment of firms reported in this month's survey indicates that economic expansion will be sustained at near three per cent pace," said Mr Williams.
"With official estimates of annual [gross domestic product] growth in Q1 2007 currently at 2.8 per cent, this survey indicates that this pace is on course to be replicated in Q2 as well."
Lloyds TSB has been conducting its business barometer since January 2002 and the data represents over 200 companies with profits in excess of £1 million.
Trevor Williams suggests that firms have been able to increase prices, while investment expenditure has now overtaken consumer spending.
His comments follow the latest business barometer from Lloyds TSB, which highlights firms' optimism in the UK's economy as a whole.
April's barometer indicates that there is increased expectation of trading activity throughout the remainder of the year.
"The sentiment of firms reported in this month's survey indicates that economic expansion will be sustained at near three per cent pace," said Mr Williams.
"With official estimates of annual [gross domestic product] growth in Q1 2007 currently at 2.8 per cent, this survey indicates that this pace is on course to be replicated in Q2 as well."
Lloyds TSB has been conducting its business barometer since January 2002 and the data represents over 200 companies with profits in excess of £1 million.