Lloyds TSB: Businesses feeling pessimistic

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Lloyds TSB: Businesses feeling pessimistic

Mon 7th Jan 2008

Organisations in the UK are exhibiting their most pessimistic feelings since December 2002, according to new figures.

The most recent Lloyds TSB Corporate Markets Business Barometer reveals that the proportion of businesses that are feeling negative about the state of the economy rose from 28 per cent in November 2007 to 51 per cent the following month.

However, the data also indicates that the proportion of firms that was feeling more confident about their particular business activity increased during the same period, rising from 47 per cent to 50 per cent during December.

Trevor Williams, chief economist at Lloyds TSB Corporate Markets, said: "While there has been a steady trend towards economic pessimism during the last four months, firms became far more cynical in December.

He added that the country "is set for a period of below-trend growth", which could potentially be helped by an interest rate cut.

Meanwhile, Lloyds TSB Scotland recently said that the Scottish economy was in "good shape" for 2008.

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