Business optimism and output remain high despite the most unpredictable election in a generation being only three months away.
New data published today by accountants BDO LLP reveals firms are unruffled by the prospect of an upcoming election.
Continued low oil prices, low inflation, strengthening wage growth and the potential for increased consumer spending have created an economic thaw for the economy. Confidence is particularly evident in the manufacturing sector which – responding positively to low input prices – maintained a balmy economic outlook.
Terry Jones, head of BDO in Yorkshire, said: “This month’s report shows that Yorkshire businesses can and will tune out of the parties’ electioneering to focus on what really matters – their business prospects. By discounting the political noise and taking a realistic view of the economy’s strengths, businesses are remaining cautiously optimistic.
“Businesses are worried less about the detail of which candidate will win and more about economic prospects.”