More firms in Britain are upbeat about the economy than at any time since 2016, the Lloyds Bank Business Barometer showed. Photo: Dan Kitwood/Getty Images
The FTSE 100 (^FTSE) rose 0.3% after opening on Friday as UK business confidence hit a five-year high amid further easing of COVID-19 restrictions.
More firms in Britain are upbeat about the economy than at any time since 2016, the Lloyds Bank Business Barometer showed.
It said that optimism rose five percentage points to 37% this month, a level last reached before the Brexit referendum. It was boosted by companies planning to hire more staff, and also expecting higher pay and price growth.
The survey, conducted between 4 May and 18 May, also showed that businesses in the manufacturing sector reported a brighter economic outlook, up 13 percentage points compared with the previous month and the highest of any sector.