This overall percentage balance for business confidence opinion weighs up the percentage of firms that are positive in outlook against those that are negative. It gives a net balance on a scale of -100% to 100%, where a score of zero would mean there was an even balance of positive and negative sentiment.
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Scottish firms’ optimism in their own trading prospects fell two points to 43% in November, while optimism in the economy dropped 25 points to 18%.
Overall UK business confidence dropped by three points in November to 41%.
In the UK as a whole, firms’ confidence in their own trading prospects strengthened two points to a net balance of 55%, but their confidence in the economy fell nine points to 26%.
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Looking ahead to the next six months, Scottish businesses identified their top target areas for growth as investing in their team, for example through training (57%); evolving their offering such as by introducing new products or services (41%); and introducing new technology such as artificial intelligence and automation (28%).
Martyn Kendrick, Scotland director at Bank of Scotland commercial banking, said: “While business confidence has fallen this month, Scottish firms are identifying fresh avenues for growth – whether that’s by investing in new technology, or developing new skills.”