Lloyds Bank Business Barometer, a measure of sentiment amongst British businesses, fell to 28% in May
- from 33% in April
- May is the first drop in 3 months
- businesses' optimism about the wider economy fell by six points to 22%
- trading prospects for the next twelve months fell for a second month in a row
- gauge of hiring intentions fell back slightly to 24% in May, from the ten-month high of 27% in April
Lloyd's comments on the results:
- "The UK has avoided an outright contraction in GDP - indicating a certain amount of underlying resilience in the economy,"
- the economic environment remains challenging, compounded by stubborn inflation and higher wage pressures.
