Confidence among businesses in the region rose by ten points during November climbing to 48pc, according to Lloyds’ latest business barometer.

Overall business confidence is a measure of responses from surveyed companies, which is calculated as an average based on their views on business prospects and optimism in the UK economy.

Companies reported more confidence in their own business prospects month-on-month, up 23 points at 72pc.

However, their optimism in the country’s economy was down one point to 25pc.

Confidence among businesses in the region rose by ten points during November (Image: Joe Giddens/PA Wire) Looking ahead to the next six months, businesses identified their top target areas for growth and evolving their offering.

This included introducing new products or services, entering new markets and investing in their team through training.

The business barometer surveys 1,200 businesses monthly and has been running since 2002.

READ MORE: Entrepreneur taking on plastic packaging industry wins Dragon’s Den-style competition

Nationally, overall UK business confidence dipped in November to 41pc, down three points from October’s 44pc. However, it remained above the long-term average of 29pc.

While confidence in their own trading prospects strengthened two points, their confidence in the economy fell nine points.

London was the most confident UK region at 57pc.

Firms in the manufacturing sector reported a rise in trading prospects for the first time in four months, while companies in construction and services also indicated stronger business growth.

However, retail firms are still struggling, reporting softer prospects for a second consecutive month.

READ MORE: Aviva has £3.3 billion takeover bid rejected by its biggest UK rival

Kirsty Sadler, regional director for the East of England at Lloyds (Image: Nicky Todd)

Kirsty Sadler, regional director for the East of England at Lloyds, said: “Business confidence in the East is now above the UK average, driven by growing confidence from the region’s businesses in their own trading prospects.

“Firms will now be looking to translate this optimism into action – whether that’s by launching new products, breaking into new markets or developing new skills.

“Whatever their ambitions, we’ll be by their side to help.”