Firms failing to invest for future due to weak conditions, says Lloyds TSB Commercial report
NORTH West firms are failing to invest in growth, which could dent prospects of an economic recovery, says the latest six monthly Business in Britain report by Lloyds TSB Commercial.
It claims companies still lack the confidence to invest for the future as weak domestic demand and cost pressures continue to hit profits.
Lloyds regional director John Robson said: “With domestic demand in the doldrums and confidence still muted it is understandable firms in the North West are worried about investing for the future.
“But the fact is that if businesses do not invest it could damage an already fragile recovery, and result in even slower growth.”
Feedback from more than 105 North West firms showed that 14% expect to increase investment over the coming six months, while 28% plan cuts, which means the overall balance of firms planning investment is in negative territory at minus 14%, a rise since six months ago when the balance was -9%.
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