Big drop in confidence level of Welsh business

BUSINESS confidence levels have fallen sharply in Wales but still remain in positive terrain, according to the latest business barometer from Lloyds.

- SION BARRY Business editor

Lloyds' latest report reveals a drop in business confidence in Wales

(Leon Neal)

Welsh firms reported lower confidence in their own business prospects month-on-month, down 38 points at 27%.

When taken alongside their optimism in the economy, down 41 points to 19%, this gives a headline confidence reading of 23% (compared to 63% in August).

Anything above zero in the barometer represents a positive net balance and vice versa.

The fall in confidence in Wales this month was greater than the UK as a whole where overall confidence fell 12 points in September to 42%.