Business confidence in Wales above UK average

CONFIDENCE levels amongst Welsh firms have picked up, according to new research from Lloyds.

- SION BARRY Business editor [e-mail]

The bank's latest business barometer show that companies in Wales reported higher confidence in their own business prospects in October, up 28 points on September at 55%. When taken alongside their optimism in the economy, up 40 points to 59%, this gave a headline confidence reading of 57% - compared to 23% in September. Anything above zero, up to a maximum of 100, denotes a positive position.

The overall confidence level in Wales was higher than for the UK as whole which climbed eight points in October to 50%. The north east of England and West Midlands were the joint most confident of any UK nation or region in October (both 62%), followed by London (60%).