Wales’ private sector maintains strong momentum

The private sector in Wales has maintained its positive, growing momentum throughout April, a recent news report in the local business media has been able to reveal.

Although the Lloyds Bank Commercial Banking Wales Business Activity Index – a seasonally adjusted index that measures the combined output of the Welsh manufacturing and service sectors – fell marginally from March’s 59.8 to 59.3 in April, the rate of expansion was well above the survey’s average.

Welsh private sector firms also reported a solid rise in new business in April. Contrasting with the trend for output, the rate of growth in new work accelerated since the previous month and was the joint-second strongest in the series history.

Latest survey data also signalled a further marked rise in Welsh private sector employment. The rate of jobs growth picked up since March and was close to February’s record high. Sector data highlighted that the upturn in employment was broad-based with both manufacturers and service providers adding to their payrolls.

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