The Business Barometer, which questions 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 43 per cent of businesses in the region expect to increase staffing levels over the next year, down 15 points on last month.Firms’ optimism in the economy12 points to 21 per cent, while their outlook on future trading prospects was down eight points, at 34 per cent. Martyn Kendrick, regional director for the North West at Lloyds Bank Commercial Banking, said: “With inflation rising, supply chain challenges and labour shortages continuing to bite, businesses are facing into tough economic headwinds. But the resilience of firms across the North West is once again shining through.
“Businesses are clearly focused on growth. Hiring intentions remain strong and management teams are exploring opportunities to expand into new markets. "Tools like asset and invoice financing can help firms manage cashflow and create working capital to invest in sustainable, long-term growth opportunities.”