CONFIDENCE SURGES FOR WELSH FIRMS

Business confidence up in Wales and across the UK

- By OWEN HUGHES Business Correspondent [e-mail]

BUSINESS confidence in Wales surged 21 points during May to 36%, according to the latest Business Barometer from Lloyds.

Companies in Wales reported higher confidence in their own business prospects month-on-month, up 28 points at 52%.

When taken alongside their optimism in the economy, up 14 points to 21%, this gives a headline confidence reading of 36% (vs 15% in April).

A net balance of 23% of businesses in the country also expect to increase staff levels over the next year, up 28 points on last month.

Overall 'balance' of business confidence opinion weighs up the percentage of firms that are positive in outlook against those that are negative