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A new report has revealed that UK business confidence, and hiring intentions, bounced back in the first half of June.

The latest Lloyds Bank Business Barometer for June shows that business confidence gains were seen across all four main industry sectors (manufacturing, construction, retail and services).

Manufacturing firms’ confidence in particular saw a boost, with figures showing it increased to its highest level since early 2022.

Paul Gordon, Managing Director for Relationship Management, Lloyds Bank Business & Commercial Banking, said, “The boost in confidence and hiring intentions is a welcome sign that businesses are managing well in what continues to be a challenging environment.’

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Paul added, “It’s particularly pleasing to see that for both services and manufacturing, two sectors which have been hardest hit in recent years, there is real optimism for trading prospects and growth.

“However, wage pressures continue to be above pre-pandemic levels and firms need to be mindful of this and ensure that costs are evenly distributed and managed closely.”

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