UK company executives grew more confident in April, with their outlook brighter than at any time since before Russia invaded Ukraine more than a year ago.
(Bloomberg) — UK company executives grew more confident in April, with their outlook brighter than at any time since before Russia invaded Ukraine more than a year ago.
The Institute of Directors said its economic confidence index improved for a fifth straight month to minus 5 last month, up from minus 13 in March. However, just a quarter of the directors surveyed thought inflation has already peaked, down on the previous month.
The survey is the latest to improved sentiment about the UK. Lloyds Bank Plc’s business confidence and GfK’s gauge of consumer sentiment have also risen to their highest levels in around a year.
“Business confidence in the UK economy is much improved compared to the end of last year, and continues to strengthen, despite business leaders also expecting high inflation to persist,” said Kitty Ussher, chief economist at the Institute of Directors. “It is particularly reassuring to see a recovery in investment intentions.”
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