Growing domestic sales and lower annual input price inflation helped buoy up sentiment
Business confidence in the North East has reached its highest level in two years, a survey of business leaders has found.
New research from the Institute of Chartered Accountants in England and Wales’ (ICAEW) suggests sales growth across the region's firms, one of the strongest rates in the UK. The ICAEW's Business Confidence Monitor put confidence at 17.8 for Q2, up from 13.4 in the previous quarter.
Domestic sales growth at 4.6% was well ahead of the region's historical average of 3% and was behind only Wales. Researchers found this growth is expected to ramp up in the coming year. And firms also reported profit growth of 2.9% - equal to the historical average for the region - with a significant improvement expected over the next year with growth of 5.3% anticipated.
