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New data has shown that UK business confidence is continuing to grow, which has resulted in more firms planning to hire.

According to the report, overall business confidence has increased to an eight-year high with staffing expectations growing for the second month in a row to the highest level since 2017.

The latest Lloyds Bank Business Barometer also shows that there is an especially high level of confidence in the construction and service sectors.

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Commenting on the findings, Paul Gordon, Managing Director for Relationship Management, Lloyds Bank Business & Commercial, said, “The last three months saw confidence unchanged at 42% as businesses adjusted to the economic environment.

“That consistency has been followed up by a marked increase in confidence in May with improved scores for trading prospects, economic outlook and hiring intentions.

“Following on from last month, there also continue to be positive signs for the labour market as businesses show increased hiring intentions.”

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