UK growth improves, as price pressures mount
The number of UK sectors reporting output growth hit a three-month high in October, as businesses experienced intense pressure to raise prices, according to the latest Lloyds Bank UK Recovery Tracker.
The number of UK sectors reporting output growth hit a three-month high in October, as businesses experienced intense pressure to raise prices, according to the latest Lloyds Bank UK Recovery Tracker.
Overall business confidence in October was at its second highest level (43%) since the start of pandemic, according to the latest Lloyds Bank Business Barometer.
Despite a big increase in the amount of borrowing by businesses since the start of the pandemic, only 11% of small and medium sized enterprises (SMEs) say they are worried about their current level of business debt.
Hospitality businesses outpaced the rest of the UK economy for the first time in more than nine years during September, according to the latest Lloyds Bank UK Recovery Tracker.
Lloyds Bank customers spent a fifth more on household energy (24%) and fuel (20%) in the last fortnight , according to the latest analysis of the bank’s debit card spend.
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