Business activity across Wales’ private sector saw the fastest rate of growth last month for the first time since May 2022, according to new figures. According to the latest PMI data from NatWest, the sharp rise was linked to stronger client demand and a rise in new orders.
The headline Wales business activity index - which measures the month-on-month change in the combined output of the manufacturing and service sectors - registered 52.0 in March. This was up from 50.7 in February showing a growth in output across the Welsh private sector. Anything below 50 denotes contraction.
Although slower than the long-run series average, the rate of growth in activity was broadly in line with that seen across the UK as a whole. The data showed an upturn in inflows of new business across the Welsh private sector as firms registered a rise in new orders at the end of the first quarter this year.
