Output growth in the private sector in Wales remains in positive terrain despite the rate of expansion slowing, according latest research from NatWest Bank.
Its Wales business activity index – which measures the month-on-month change in the combined output of the manufacturing and service sectors – registered 56.1 in May. This was broadly in line with April’s reading of 56.2, but the lowest for four months. Anything below 50 denotes contraction.
Welsh firms reported that higher output was linked to greater client demand and a faster rise in new orders. The increase in activity was the second-steepest of the 12 nations and regions of the UK and slower than only London.
