The biggest improvement in British trade confidence in 4 years

According to IBNA, quoting Reuters, on Monday, a Lloyd’s Bank poll showed: “This month, British trade confidence has recorded its biggest monthly increase in more than four years, which shows optimism that COVID-19 vaccines Leads to economic recovery in 2021.

Lloyd’s Bank said its monthly trade pressure rose 17 percent to -4 percent in December, its highest level since March, before the Corona virus hit the British economy.

An economist from Lloyd’s said that the news of vaccine progress had boosted confidence this month, rather than offsetting uncertainty about Britain’s new trade relationship with the European Union.

According to a survey of market researchers last week, the rise in business sentiment reflects similar gains among households whose confidence has risen this month by the widest margin in eight years.

The immediate economic background is weak. According to the Bank of England, the British economy is shrinking by 11% this year, the highest since 1709, while growth in early 2021 appears to be hampered by continued COVID-19 restrictions.

Lloyd’s Bank said 32 percent of companies surveyed expect to cut staff next year, and 22 percent plan to increase the number. Larger businesses tend to be more lively and are also more likely to end up blocking payments.

The survey is based on a survey of 1,200 companies conducted between November 25 and December 10.