Market News

LONDON, Feb 28 (Reuters) - British businesses turned more optimistic for the first time in seven months in February as they took a brighter view on the economy and ramped up their hiring plans, according to a survey published on Friday.
Striking a more upbeat note than other recent gauges of sentiment among employers, the Lloyds Bank Business Barometer hit its highest since July and August of last year at 49%, up from 37% in January which was its lowest in more than a year.

Hann-Ju Ho, senior economist at Lloyds Bank Commercial Banking, said the rise in confidence suggested firms were coping with higher costs and uncertainty.
Other surveys have shown a mood of gloom among employers linked to finance minister Rachel Reeves' announcement of a 25 billion-pound ($31 billion) tax increase starting April when a nearly 7% increase in the minim um wage is also due.
But the Lloyds report showed confidence in the economy jumped by 18 points - the largest monthly increase since late 2020 - to 42%.