British Firms are Optimistic despite Weak UK Economy

The Lloyds Bank survey indicates that British firms are very optimistic towards its economy. More than half of British companies are feeling upbeat compared in the past months. However, the balance is expecting for a sharp decline in trading based on the published report on Monday. The poll was participated by 1,200 businesses made on March 29 and April 18.

During that period, the sterling pound surge to its maximum level compared with the American dollar since the Brexit referendum but inflation was reduced to 2.5 percent in March. Moreover, retail and manufacturing reports were slightly positive and improvements which the survey may temporary confidence. Figures published on Friday recorded the worst performance of the economy since the end of 2012 in Jan-Mar period. The retail industry had the lowest confidence level according to Lloyds, this is because of the harmful weather condition that affected sales in the first quarter.