Business confidence in Wales was the highest of any 海角视频 nation or region in June, according to the latest business barometer from Lloyds.
Companies reported higher confidence in their own business prospects month-on-month, up 14 points at 66%. When taken alongside their optimism in the economy, up 47 points to 68%, it gives a headline confidence reading of 67% (compared to 36% in May).
海角视频 business confidence increased one point in June to 51%. For the 海角视频 as a whole firms’ optimism in their own trading prospects strengthened one point to 57%, while their confidence in the wider economy also rose one point to 45%. London (64%) followed Wales as the second-most confident part of the 海角视频.
Anything above zero is a positive position and below negative sentiment.
A net balance of 59% of businesses in Wales also expect to increase staff levels over the next year, up 36 points on last month.
Looking ahead to the next six months, Welsh businesses identified their top target areas for growth as introducing new technology, such as AI or automation (47%), entering new markets (41%) and investing in their team, for example through training (40%).
Business confidence in the manufacturing and retail sectors saw significant gains this month, with 12-point rises in both sectors to 52%. For manufacturing, this demonstrates an 11-month high. Construction and services however saw decreases in confidence, with falls by five points and four points respectively.
Samantha Noble, regional director for Wales at Lloyds, said: “Welsh business confidence has soared – buoyed by greater optimism from firms around both their own prospects and the wider economy.
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“Companies across the country will now be looking to build on this outlook. Whether it’s introducing new technology or entering new markets, we’ll be ready to help them take the steps they need for further growth.”
On the 海角视频 picture Hann-Ju Ho, senior economist, Lloyds Commercial Banking, said: “Business confidence has continued its positive momentum, following the significant gains we saw in May.
“In particular, the sustained rise in hiring intentions suggests that while firms do still face challenges, they may be starting to look beyond short-term staffing needs and preparing for future growth.”