Confidence among firms in Yorkshire and Humber has increased for the second quarter running, according to the latest Business Confidence Monitor produced by the Institute of Chartered Accountants and business advisers Grant Thornton.
The study says forecasts for growth in annual turnover and sales volumes are the highest they have been since the end of 2007 and expectations of profit growth are the highest they have been during the past three years.
Paul Houghton, who is a partner at Grant Thornton’s Sheffield office, said: “It is encouraging to see confidence in Yorkshire continuing to rise. Businesses in our region are now among the most positive in the UK.
“Underlying confidence in manufacturing and engineering is steadily improving, and while the recovery is unlikely to be plain sailing this does bode well for the Sheffield City Region.
“The region has also been boosted by its rich talent in healthcare and the creative and digital sectors. Not all signs are positive, however, so we still need to move forward with a note of caution.
“That said, these latest results do reflect our belief that the Sheffield City Region is well placed to play an increasingly key role in the UK economy.”
n Foundry supplies business A&S Metallurgical Resources has changed its name to Asmet as part of a major branding overhaul. Dronfield-based Asmet says the branding change is part of its new strategy which involves transforming the way it supplies metallurgical resources to the European market.