• Swindon & Wiltshire Economy
• Friday May 31 2024
• Author Name: Staff reporter

South West business confidence dipped in May

Business confidence in the South West dipped slightly in May, according to a monthly survey by Lloyds Bank Commercial Banking.

The bank’s Business Barometer reported a drop of five points to 40 per cent.

Companies in the region reported lower confidence in their own business prospects month-on-month, down two points at 51 per cent.

When taken alongside their optimism in the economy, down six points to 30 per cent, this gives a headline confidence reading of 40 per cent.

However, the dip followed a recent record of 45 per cent recorded in April – up from 18 per cent in March.

Nationally, business confidence reached its highest level since 2015 in May – rising by eight points to a net balance of 50 per cent.

Amanda Dorel, regional director for the South West at Lloyds Bank Commercial Banking, said: “While overall confidence has dipped in May, it’s encouraging to see that most South West businesses are still optimistic when it comes to their own prospects.

“This is a reflection of the creativity and resilience of our region’s economy.

“As businesses continue to target growth – whether through launching new products or services, or entering new markets – we’ll continue to be by their side with our insight and funding to support their ambitions.”

Pictured: Devizes in Wiltshire

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