WELSH BUSINESS CONFIDENCE IS HIGHEST IN UK

Optimism has soared according to barometer

- By OWEN HUGHES Business Correspondent [e-mail]

BUSINESS confidence in Wales was the highest of any UK nation or region in June, according to the latest Business Barometer from Lloyds.

Companies in Wales reported higher confidence in their own business prospects month-on-month, up 14 points at 66%.

When taken alongside their optimism in the economy, up 47 points to 68%, this gives a headline confidence reading of 67% (vs. 36% in May).

A net balance of 59% of businesses in Wales also expect to increase staff levels over the next year, up 36 points on last month.

Looking ahead to the next six months, Welsh businesses identified their top target areas for growth as introducing new technology, such as Al or automation (47%), entering new markets (41%) and investing in their team, for example through training (40%).