Business confidence in the North East has risen for the third consecutive quarter to the highest level in two years, outstripping the UK, according to a survey of business leaders.
Sentiment tracked by ICAEW’s Business Confidence Monitor (BCM) for Q2 2024 put confidence at 17.8 on the index, up from 13.4 in the previous quarter and ahead of both the region’s historical average and the UK reading.
Confidence was buoyed by domestic sales growth, which at 4.6% was one of the strongest rates in the UK, behind only Wales, the BCM found.
