UK businesses feel pressure from Omicron

UK businesses feel pressure from Omicron
3/3 UK businesses feel pressure from Omicron - Lloyds survey© Reuters. A woman visits a Christmas market in London, Britain, December 20, 2021. REUTERS/Hannah McKay 2/3

By David Milliken

LONDON (Reuters) – British business confidence began to feel the impact of the Omicron variant of coronavirus this month, alongside further upward pressure on prices and staffing costs, a survey showed on Tuesday.

Lloyds (LON:) Bank said its monthly business confidence survey, conducted between Nov. 26 and Dec. 10, held steady at 40% this month, well above its long-run average of 28%.

However, responses weakened in the second week of the survey when the impact of the Omicron variant began to become clearer, with sentiment falling back to 32%, similar to during the spring and summer.

Last week IHS Markit purchasing managers’ data showed activity growth fell to a 10-month low this month.

“Businesses face…

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