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NI businesses 'more confident about economic climate' than other UK regions

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Belfast City Council

Belfast City Council

Belfast City Council

Businesses in Northern Ireland are more confident about the current economic climate compared to other regions in the UK, according to a new survey.

While there remains severe economic uncertainty across the UK, those questioned here said they were more confident about the current situation.

Those quizzed also said they were most confident about the happiness of employees, according to the survey from Nexus Global.

From a regional point of view, businesses in Northern Ireland are the most confident about the current climate, scoring 102.3 out of 190, nearly 10 points over the UK average. Whereas businesses in Scotland are the least confident by scoring just 83.8.

“It is by no surprise to see business confidence at a low during such an unsettling and turbulent period, during which the UK economy has suffered its worst-ever decline,” John Westwood, managing director, Nexus Global, says.

“Looking forward, business confidence levels will be a key factor to influence the pace of consumer spending once lock-down measures continue to ease. This change in behaviour will need to see businesses adapt if they stand a chance of seeing growth.”

Ulster Business