Welsh Businesses Least Confident in the UK
Posted 14th March 2019 in News For Businesses
Business confidence in Wales fell to the United Kingdom’s lowest levels in February, according to the latest Business Barometer survey by Lloyds Bank Commercial Banking.
Overall confidence dropped by 11 points in February – the lowest since the regional barometer was launched in January 2018.
Falling confidence could be seen in Welsh firms’ hiring plans, with 1% of firms planning to reduce staff numbers over the next year.
11% of Welsh companies said they felt that Brexit was having a negative impact on their business expectations.
The Business Barometer surveys 1,200 businesses each month.
Wales’s regional director for Lloyds Bank Commercial Banking David Beaumont said, “This data indicates slowing growth in key international markets, together with ongoing uncertainty at home, is weighing on Welsh businesses and leading some firms to review their investment plans.”
Behind Wales, Yorkshire and Humber was the least confident region, registering an overall confidence score of 0%.
Businesses in the North West showed the most confidence at 12%, followed by the West Midlands at 11%.