COMPANIES in the West Midlands have reported lower confidence in their prospects than earlier this year.

Lloyds Bank’s Business Barometer for April 2018, which surveyed firms in the region including Worcestershire, found that their confidence in their own business prospects was 29 per cent, compared with 38 per cent in March.

Overall confidence for firms fell 14 points last month to 28 per cent - 14 points below the previous month’s figure of 42 per cent, while economic optimism in the region stood at 27 per cent, 18 points below the March figure.

Nationally, overall confidence remained unchanged at 32 per cent, although firms’ confidence in their own business outlook fell to 31 per cent.

Glen Wilson, regional director for the West Midlands at Lloyds Bank Commercial Banking, said: “Confidence in the West Midlands fell sharply during April in the face of continued political and economic uncertainty, but it remains close to the national average. Businesses in the region remains cautiously positive about both the economy overall and their own prospects and the fact that a significant number of firms still plan to hire additional staff demonstrates the confidence they have to invest in further growth.”