Fall in business confidence but up on UK average

BUSINESS confidence in Wales fell 13 points during August to 63%, according to the latest Business Barometer from Lloyds but remains higher than the Uk average.

- By OWEN HUGHES Business Correspondent [e-mail]

Companies in Wales reported lower confidence in their own business prospects month-on-month, down 21 points at 65%.

When taken alongside their optimism in the economy, down six points to 60%, this gives a headline confidence reading of 63% (vs. 76% in July).

Looking ahead to the next six months, Welsh businesses identified their top target areas for growth as investing in their teams (51%), evolving their offering, for example by introducing new products or services (41%), and entering new markets (32%).

The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide.