UK business confidence held steady in March, matching February’s six-month high

UK business confidence held steady in March, matching February’s six-month high, according to Lloyds Bank.

• Lloyds Business Barometer March 2025 came in at 49 vs. expected 50 and February’s 49

Retailers showed strong sentiment, aligning with official data showing a surprise jump in February retail sales.

• Confidence in own trading prospects hit its highest level since 2017, despite broader economic uncertainties.

• Manufacturing sentiment fell sharply, reflecting concerns echoed in the recent S&P Global PMI data.

• Upcoming U.S. tariffs, domestic tax hikes, and energy bill increases may challenge the UK’s early 2025 recovery.

• Hiring, pay, and price expectations eased, suggesting a cautious outlook despite signs of underlying growth.

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GBP slipped early but it has;t followed through lower to much of an extent:

This article was written by Eamonn Sheridan at www.forexlive.com.