Business confidence in the West Midlands is on the up, a survey shows.
According to the latest figures in the Lloyds Bank Business Barometer the region now stands at a 36 per cent confidence rating – higher by six per cent then last month.
The improvement matches the national trend which shows a rosier picture in 10 of the UK’s 12 regions and nations.
Business confidence is at its strongest for 13 months at 37 per cent, boosted by stronger trading prospects and economic optimism.
Sentiment in June bounced back after a dip in May and has risen in three out of the last four months.
The rise in overall business confidence has been driven in part by a service sector rebound.
Prospects for recruitment are at a one-year high and have now risen in six out of the past seven months, with 46 per cent (up from 44%) expecting to add to their workforce.
Firms’ expectations for average pay growth also appear to have picked up compared with the start of the year.
Daily Focus has been highlighting a recent upsurge in business investment which chimes with the findings of the Lloyds survey.
Tamworth-based Precision Technologies International is investing £1.5 million in specialist engineering equipment, whilst Starbucks has created 21 jobs with a new drive thru also in Tamworth.
And a £500,000 investment drive has been launched by Future Developments (Manufacturing) in Stoke-on-Trent for a new production facility and packing line.
