Business confidence in the West Midlands rose 15 points during November to 51 per cent, according to the latest Business Barometer from Lloyds.
Companies in the West Midlands reported higher confidence in their own business prospects month-on-month, up 11 points at 63 per cent.
Looking ahead to the next six months, West Midlands businesses identified their top target areas for growth as investing in their team, for example through training , entering new markets and evolving their offering, for instance by introducing new products or services . While firms’ confidence in their own trading prospects strengthened two points to a net balance of 55 per cent, their confidence in the economy fell nine points to 26 per cent.
Retail firms, however, signalled softer prospects for a second month running, with the trading prospects’ net balance down six points at 45 per cent.
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