ALL WALES QUARTERLY ECONOMIC SURVEY · 10 Business Confidence 14 Infographic 20 To discuss the...
20
ALL WALES QUARTERLY ECONOMIC SURVEY RESULTS Q4 2015 4 Q Compiled and published by
Transcript of ALL WALES QUARTERLY ECONOMIC SURVEY · 10 Business Confidence 14 Infographic 20 To discuss the...
ALL WALES QUARTERLY ECONOMIC SURVEY
RESULTS Q4 2015
4QCompiled and published by
2
CONTE
NTS
Co
ntac
ts
2
Exe
cuti
ve S
umm
ary
3
Bac
kgro
und
Info
rmat
ion
4
UK
Mar
kets
6
Exp
ort
Mar
kets
8
Lab
our
Fo
rce
and
Rec
ruit
men
t
10
Bus
ines
s C
onfi
den
ce
14
Info
gra
phi
c
20
To d
iscu
ss t
he Q
uart
erly
Eco
nom
ic S
urve
y in
mo
re d
etai
l ple
ase
cont
act:
Kei
th P
alm
er, G
roup
CE
OT:
016
33 2
427
00
E: k
eith
.pal
mer
@so
uthw
ales
cham
ber
.co
.uk
Elg
an M
org
an, I
nter
nati
ona
l and
Rep
rese
ntat
ion
Man
ager
T:
016
33 2
427
21E
: elg
an.m
org
an@
sout
hwal
esch
amb
er.c
o.u
k
So
uth
Wal
es C
ham
ber
of
Co
mm
erce
Hea
d O
ffice
:O
rio
n S
uite
, Ent
erp
rise
Way
New
po
rt, N
P20
2A
Q
ww
w.s
out
hwal
esch
amb
er.c
o.u
k
Mid
Wal
es C
ham
ber
of
Co
mm
erce
The
Bus
ines
s U
nit,
Co
leg
Po
wys
Lla
nid
loes
Ro
adN
ewto
wn,
SY
16 4
HU
ww
w.m
idw
ales
cham
ber
.co
.uk
Wes
t C
hesh
ire
& N
ort
h W
ales
Cha
mb
er o
f C
om
mer
ceR
iver
sid
e In
nova
tio
n C
entr
e1
Cas
tle
Dri
ve, C
hest
er, C
H1
1SL
ww
w.w
cnw
cham
ber
.org
.uk
3
As
we
ente
r 20
16 o
ur
Qua
rter
ly E
cono
mic
Sur
vey
sho
ws
that
bus
ines
ses
in
Wal
es a
re f
eelin
g c
onfi
den
t fo
r th
e N
ew Y
ear
wit
h al
l of
our
key
ind
icat
ors
sho
win
g
gro
wth
.
Last
qua
rter
we
rais
ed s
om
e co
ncer
n re
gar
din
g e
xpo
rts
wit
h a
sig
nifi
cant
slo
wd
ow
n in
gro
wth
in e
xpo
rt s
ales
and
ex
po
rt o
rder
s al
mo
st fl
at-
linin
g. I
’m p
leas
ed h
ow
ever
th
at o
ur c
onc
erns
hav
en’t
b
orn
e o
ut a
nd w
e’ve
see
n a
re-a
ccel
erat
ion
of
gro
wth
in
bo
th e
xpo
rt s
ales
and
ord
ers
dur
ing
the
last
qua
rter
of
the
year
.
Do
mes
tic
trad
e is
als
o v
ery
po
siti
ve w
ith
sig
nifi
cant
ly
mo
re b
usin
esse
s re
po
rtin
g
that
UK
sal
es a
nd o
rder
s ar
e in
crea
sing
tha
n d
ecre
asin
g
The
se o
pti
mis
tic
sig
ns a
re
also
refl
ecte
d in
our
bus
ines
s
confi
den
ce in
dic
ato
rs w
ith
a ri
se in
the
num
ber
of
bus
ines
ses
exp
ecti
ng t
heir
p
rofi
ts t
o in
crea
se in
20
16
and
ove
r ha
lf o
f b
usin
esse
s su
rvey
ed e
xpec
ting
the
ir
turn
over
to
incr
ease
in t
he
next
yea
r.
The
rat
e o
f g
row
th in
em
plo
ymen
t se
ems
to b
e co
ntin
uing
at
a re
aso
nab
ly
stea
dy
pac
e b
ut w
e’ve
w
itne
ssed
a s
harp
fal
l in
the
num
ber
of
bus
ines
ses
recr
uiti
ng, i
ndic
atin
g a
sl
ow
do
wn
in s
taff
tur
nove
r. T
his
coul
d b
e a
refl
ecti
on
that
in
div
idua
ls a
re f
eelin
g m
ore
co
nfid
ent
in t
heir
em
plo
ymen
t an
d t
here
fore
no
t lo
oki
ng t
o
mov
e o
n.
Des
pit
e th
is, t
wo
-thi
rds
of
bus
ines
ses
who
hav
e re
crui
ted
ha
ve f
oun
d it
diffi
cult
to
find
th
e ri
ght
peo
ple
. Thi
s is
a
tren
d w
e’ve
no
w s
een
for
over
a y
ear.
The
re is
a g
reat
dea
l mo
re t
hat
coul
d b
e d
one
to
sup
po
rt t
hose
loo
king
to
en
ter
the
job
s m
arke
t. It
is
vita
l tha
t W
elsh
bus
ines
ses
are
able
to
so
urce
tal
ente
d
staff
and
the
ski
lls g
ap n
eed
s to
be
add
ress
ed. W
e w
oul
d
like
to s
ee t
his
issu
e at
the
he
art
of
the
po
litic
al a
gen
da
at t
he u
pco
min
g A
ssem
bly
el
ecti
on
to e
nsur
e th
at t
he
next
gen
erat
ion
of
Wal
es’
wo
rkfo
rce
is e
qui
pp
ed w
ith
the
rig
ht s
kills
if w
e ar
e g
oin
g
to b
uild
a s
usta
inab
le w
elsh
ec
ono
my.
We
also
nee
d t
o k
eep
an
eye
on
pla
ns f
or
inve
stm
ent
in t
rain
ing
and
eq
uip
men
t w
hich
hav
e d
ipp
ed a
gai
n th
is
qua
rter
, but
so
long
as
mo
re
bus
ines
ses
are
rep
ort
ing
tha
t th
ey a
re in
crea
sing
fun
din
g
than
dec
reas
ing
it, i
t is
no
t so
met
hing
tha
t is
hug
ely
sig
nifi
cant
.
As
we
ente
r a
New
Yea
r, b
usin
ess
confi
den
ce s
eem
s p
osi
tive
and
we
mus
t al
l ke
ep w
ork
ing
to
get
her
to
ensu
re t
hat
eco
nom
ic g
row
th
cont
inue
s fo
r W
ales
.
Kei
th P
alm
er
Gro
up C
EO
, So
uth
& M
id W
ales
C
ham
ber
s o
f C
om
mer
ce
The
Qua
rter
ly E
cono
mic
S
urve
y re
ceiv
ed 6
97
bus
ines
s re
spo
nses
fro
m a
cro
ss W
ales
. T
he r
esp
ond
ents
wer
e su
rvey
ed
by
onl
ine
que
stio
nnai
res
over
th
e p
erio
d 9
th t
o 3
0th N
ovem
ber
20
15.
EX
EC
UT
IVE
SU
MM
AR
Y
4
NU
MB
ER
OF
EM
PLO
YE
ES
LOC
AT
ION
OF
BU
SIN
ESS
ES
49
.2%
13.4
%
17.9
%
13.4
%
1.1% 2.2%
2.8
%
0%
10%
20%
30%
40
%50
%6
0%
0-9
10-1
9
20-4
9
50-1
99
200
-24
9
250
-49
9
500
+
9.0
%
22.5
%
17.2
%
12.5
%
10.8
%
11.0
%
11.5
%
5.5%
Bri
dg
end
/ V
ale
of
Gla
mo
rgan
Car
dif
f
Car
ms
/ P
emb
s
New
po
rt /
To
rfae
n /
Mo
n /
Bl G
wen
t
Po
wys
/ C
ered
igio
n
RC
T /
Cae
rphi
lly /
Mer
thyr
Sw
anse
a /
Nea
th P
ort
Tal
bo
t
No
rth
Wal
es
5
MA
IN B
USI
NE
SS A
CT
IVIT
Y
5.3%
4.4
%
3.0
%
5.6
%
5.2%
3.4
%
1.1%
15.8
%
4.2
%
21.7
%
4.4
%
25.8
%
0%
5%10
%15
%20
%25
%30
%
Co
nst
ruct
ion
Ho
tels
/ C
ater
ing
Tra
nsp
ort
/ D
istr
ibut
ion
Ret
ailin
g /
Who
lesa
ling
Pub
lic /
Vo
lunt
ary
Sec
tor
Ser
vice
s
Man
ufac
ture
Ele
ctro
nic
/ IT
Pro
duc
tio
n R
aw M
ater
ials
/ A
gri
Man
ufac
ture
of
oth
er G
oo
ds
Mar
keti
ng /
Med
ia
Pro
fess
iona
l Ser
vice
s
Co
nsu
mer
ser
vice
s
Oth
er
6
UK
MA
RK
ET
- S
ALE
S
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
49.
7%
37.3
%
13.1%
Incr
ease
dR
emai
ned
Con
stan
tD
ecre
ased
Sum
mar
y
The
re h
as b
een
clea
r g
row
th in
do
mes
tic
sale
s in
qua
rter
fo
ur w
ith
over
do
uble
th
e nu
mb
er o
f b
usin
esse
s re
po
rtin
g t
hat
thei
r sa
les
incr
ease
d t
han
dec
reas
ed.
Ho
wev
er w
ith
a sl
ight
fal
l in
the
num
ber
o
f b
usin
esse
s re
po
rtin
g in
crea
sed
sal
es
com
par
ed t
o t
he t
hird
qua
rter
tha
t g
row
th m
ay b
e sl
ow
ing
do
wn.
15.7
%4.
5%12
.0%
12.9
%3.
6%26
.7%
16.7
%22
.7%
35.3
%54
.5%
48.0
%45
.2%
46.4
%
40.0
%53
.3%
40.9
%
49.0
%40
.9%
40.0
%41
.9%
50.0
%33
.3%
30.0
%36
.4%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
14.3
%22
.2%
8.3%
5.9%
16.7
%0.
0%16
.7%
11.4
%
40.5
%29
.6%
54.2
%47
.1%
37.5
%53
.8%
38.9
%54
.3%
45.2
%48
.1%
37.5
%47
.1%
45.8
%46
.2%
44.4
%34
.3%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
13.1
%13
.4%
12.7
%9.
8%13
.3%
20.1
%17
.3%
18.7
%
37.3
%36
.4%
42.7
%43
.4%
40.9
%38
.5%
41.2
%41
.6%
49.7
%50
.2%
44.6
%46
.8%
45.8
%41
.4%
41.5
%39
.7%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
10.5
%11
.2%
13.3
%13
.7%
15.9
%22
.1%
16.0
%16
.0%
35.5
%33
.5%
42.2
%39
.5%
35.2
%38
.4%
40.9
%40
.9%
53.9
%55
.3%
44.5
%46
.8%
48.9
%39
.5%
43.1
%43
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
16.4
%16
.2%
13.3
%4.
3%12
.7%
20.0
%24
.2%
23.4
%
40.1
%38
.7%
38.6
%47
.3%
47.6
%34
.5%
37.9
%40
.8%
43.5
%45
.0%
48.2
%48
.4%
39.7
%45
.5%
37.9
%35
.9%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
7
UK
MA
RK
ET
- O
RD
ER
S
49.
7%
37.3
%
13.1%
Incr
ease
dR
emai
ned
Con
stan
tD
ecre
ased
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
yW
e’ve
wit
ness
ed a
slig
ht s
low
do
wn
in
gro
wth
in q
uart
er f
our
wit
h ve
ry li
ttle
ch
ang
e in
the
num
ber
of
bus
ines
ses
rep
ort
ing
an
incr
ease
in o
rder
s b
ut a
sm
all r
ise
in t
he n
umb
er r
epo
rtin
g a
d
ecre
ase
com
par
ed t
o q
uart
er t
hree
. D
esp
ite
this
, the
UK
mar
ket
seem
s co
nfid
ent
go
ing
in t
o t
he n
ew y
ear
wit
h si
gni
fica
ntly
mo
re b
usin
esse
s re
po
rtin
g
incr
easi
ng o
rder
s th
an d
ecre
asin
g o
rder
s.
22.9
%0.
0%13
.0%
10.3
%8.
3%23
.1%
17.2
%21
.5%
31.3
%
47.6
%34
.8%
48.3
%37
.5%
53.8
%51
.7%
40.0
%
45.8
%52
.4%
52.2
%41
.4%
54.2
%
23.1
%31
.0%
38.5
%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
10.0
%12
.5%
8.3%
0.0%
14.3
%0.
0%11
.1%
11.4
%
45.0
%41
.7%
70.8
%
50.0
%42
.9%
69.2
%44
.4%
51.4
%
45.0
%45
.8%
20.8
%
50.0
%42
.9%
30.8
%44
.4%
37.1
%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
14.1
%13
.4%
12.1
%10
.0%
15.1
%18
.9%
17.2
%20
.4%
38.5
%39
.7%
46.0
%45
.0%
44.1
%45
.3%
45.5
%42
.1%
47.4
%46
.9%
41.8
%45
.0%
40.9
%35
.8%
37.3
%37
.6%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
12.2
%11
.0%
11.2
%16
.7%
16.7
%23
.5%
14.5
%18
.5%
37.3
%33
.8%
44.8
%40
.4%
42.9
%40
.7%
46.7
%42
.2%
50.5
%55
.2%
44.0
%43
.0%
40.5
%35
.8%
38.8
%39
.4%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
15.9
%19
.6%
14.5
%3.
3%15
.8%
15.4
%25
.4%
25.1
%
41.4
%46
.1%
43.4
%48
.9%
49.1
%44
.2%
40.3
%40
.8%
42.7
%34
.3%
42.1
%47
.8%
35.1
%40
.4%
34.3
%34
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
8
EX
PO
RT
MA
RK
ET
- S
ALE
S
49.
7%
37.3
%
13.1%
Incr
ease
dR
emai
ned
Con
stan
tD
ecre
ased
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
Co
ncer
ns e
xpre
ssed
last
qua
rter
ove
r ex
po
rts
have
no
t b
orn
e o
ut w
ith
a ri
se
this
qua
rter
in t
he n
umb
er o
f b
usin
esse
s re
po
rtin
g in
crea
sing
sal
es c
om
par
ed t
o
qua
rter
thr
ee a
nd a
sub
stan
tial
fal
l in
the
num
ber
rep
ort
ing
dec
reas
ing
sal
es.
Thi
s in
dic
ates
tha
t g
row
th in
exp
ort
s ha
s ac
cele
rate
d d
urin
g t
he la
st q
uart
er o
f 20
15.
4.2%
0.0%
7.7%
23.1
%7.
1%
33.3
%25
.0%
12.5
%
37.5
%
10.0
%
53.8
%38
.5%
35.7
%
66.7
%
50.0
%
50.0
%
58.3
%
90.0
%
38.5
%38
.5%
57.1
%
0.0%
25.0
%37
.5%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
8.3%
8.3%
9.1%
12.5
%0.
0%10
.0%
18.2
%11
.1%
41.7
%33
.3%
36.4
%25
.0%
23.1
%
50.0
%45
.5%
33.3
%
50.0
%58
.3%
54.5
%62
.5%
76.9
%
40.0
%36
.4%
55.6
%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
14.8
%11
.6%
22.0
%22
.6%
14.0
%15
.9%
27.1
%20
.2%
44.9
%42
.9%
37.0
%26
.9%
34.9
%42
.9%
37.4
%40
.4%
40.3
%45
.5%
41.0
%50
.5%
51.2
%41
.3%
35.5
%39
.4%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
16.2
%16
.9%
25.9
%28
.9%
15.4
%17
.6%
24.2
%17
.9%
44.8
%35
.6%
33.3
%22
.2%
41.0
%41
.2%
38.7
%39
.0%
39.0
%47
.5%
40.7
%48
.9%
43.6
%41
.2%
37.1
%43
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
18.2
%6.
5%27
.3%
14.8
%25
.0%
12.5
%
44.4
%32
.1%
49.1
%71
.0%
36.4
%
29.6
%30
.0%
37.5
%
16.7
%41
.5%
32.7
%22
.6%
36.4
%55
.6%
45.0
%50
.0%
38.9
%26
.4%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
9
EX
PO
RT
MA
RK
ET
- O
RD
ER
S
49.
7%
37.3
%
13.1%
Incr
ease
dR
emai
ned
Con
stan
tD
ecre
ased
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
The
dat
a o
n ex
po
rt o
rder
s sh
ow
a
po
siti
ve f
utur
e fo
r ex
po
rts
wit
h a
rise
in
the
num
ber
of
bus
ines
ses
rep
ort
ing
in
crea
sing
ord
ers
com
par
ed t
o t
he
pre
vio
us q
uart
er a
nd a
fal
l in
the
num
ber
o
f b
usin
esse
s re
po
rtin
g d
ecre
asin
g
ord
ers.
Thi
s ha
s o
pen
ed u
p a
cle
ar
diff
eren
tial
bet
wee
n th
e tw
o in
dic
atin
g
gro
wth
in e
xpo
rts
as w
e en
ter
2016
.
8.3%
0.0%
9.1%
18.2
%16
.7%
0.0%
25.0
%17
.4%
33.3
%
20.0
%
54.5
%45
.5%
41.7
%
100.
0%50
.0%
47.8
%
58.3
%80
.0%
36.4
%36
.4%
41.7
%
0.0%
25.0
%34
.8%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
10.0
%10
.0%
9.1%
12.5
%0.
0%0.
0%18
.2%
11.8
%
30.0
%30
.0%
54.5
%37
.5%
25.0
%
55.6
%
54.5
%
29.4
%
60.0
%60
.0%
36.4
%50
.0%
75.0
%
44.4
%27
.3%
58.8
%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
14.9
%16
.0%
21.1
%24
.1%
14.3
%11
.9%
29.6
%23
.9%
44.2
%40
.6%
41.1
%32
.2%
35.1
%50
.8%
39.8
%40
.2%
40.9
%43
.4%
37.8
%43
.7%
50.6
%37
.3%
30.6
%35
.9%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
16.0
%17
.2%
22.9
%31
.7%
19.4
%15
.2%
29.7
%22
.0%
45.0
%34
.5%
33.3
%24
.4%
33.3
%51
.5%
37.5
%40
.7%
39.0
%48
.3%
43.8
%43
.9%
47.2
%33
.3%
32.8
%37
.3%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
17.0
%21
.4%
30.0
%18
.5%
11.8
%13
.3%
41.2
%35
.3%
51.1
%64
.3%
45.0
%
37.0
%41
.2%
40.0
%
29.4
%39
.2%
31.9
%14
.3%
25.0
%44
.4%
47.1
%46
.7%
29.4
%25
.5%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
10
LAB
OU
R F
OR
CE
- L
AST
QU
AR
TE
RC
hang
es t
o t
he n
umb
er o
f em
plo
yees
in t
he la
st t
hree
mo
nths
.
49.
7%
37.3
%
13.1%
Incr
ease
dR
emai
ned
Con
stan
tD
ecre
ased
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
The
re w
as g
row
th in
em
plo
ymen
t ov
er
the
last
thr
ee m
ont
hs w
ith
alm
ost
do
uble
th
e nu
mb
er o
f b
usin
esse
s re
po
rtin
g t
hat
thei
r w
ork
forc
e in
crea
sed
co
mp
ared
to
th
ose
tha
t d
ecre
ased
.
Ho
wev
er, w
ith
the
num
ber
of
bus
ines
ses
incr
easi
ng t
heir
wo
rkfo
rce
falli
ng a
nd
the
num
ber
of
bus
ines
ses
red
ucin
g t
heir
w
ork
forc
e g
etti
ng la
rger
, the
tre
nd w
e w
itne
ssed
last
qua
rter
of
a sl
ow
ing
rat
e o
f em
plo
ymen
t g
row
th s
eem
s to
be
cont
inui
ng.
13.5
%8.
7%0.
0%0.
0%7.
1%0.
0%3.
1%7.
7%
61.5
%52
.2%
69.2
%63
.3%
57.1
%92
.9%
71.9
%70
.8%
25.0
%39
.1%
30.8
%36
.7%
35.7
%
7.1%
25.0
%21
.5%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
9.3%
3.6%
8.3%
5.6%
8.3%
0.0%
11.1
%2.
8%
69.8
%
50.0
%58
.3%
44.4
%58
.3%
33.3
%
61.1
%75
.0%
20.9
%
46.4
%33
.3%
50.0
%33
.3%
66.7
%
27.8
%22
.2%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
10.0
%9.
0%6.
0%7.
0%10
.2%
9.1%
11.0
%13
.5%
64.9
%54
.5%
59.4
%57
.2%
58.5
%57
.6%
61.0
%62
.2%
25.2
%36
.4%
34.6
%35
.8%
31.2
%33
.3%
28.1
%24
.4%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
7.9%
11.2
%8.
4%7.
9%10
.0%
11.6
%10
.6%
15.9
%
64.6
%50
.0%
56.5
%58
.3%
61.1
%60
.5%
61.2
%55
.4%
27.5
%38
.8%
35.1
%33
.9%
28.9
%27
.9%
28.2
%28
.7%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
12.7
%7.
2%3.
5%8.
3%12
.7%
9.4%
15.3
%13
.2%
65.2
%63
.1%
61.2
%56
.3%
55.6
%49
.1%
55.6
%68
.8%
22.1
%29
.7%
35.3
%35
.4%
31.7
%41
.5%
29.2
%18
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
11
LAB
OU
R F
OR
CE
- N
EX
T Q
UA
RT
ER
Exp
ecte
d c
hang
e to
the
num
ber
of
emp
loye
es o
ver
the
next
thr
ee m
ont
hs. 67
.8%
24.0
%
8.1%
Incr
ease
Rem
ain
Con
stan
tD
ecre
ase
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
Wit
h si
gni
fica
ntly
mo
re b
usin
esse
s ex
pec
ting
the
ir w
ork
forc
e to
incr
ease
in
the
next
thr
ee m
ont
hs t
han
the
num
ber
ex
pec
ting
to
red
uce
thei
r w
ork
forc
e,
emp
loym
ent
leve
ls in
Wal
es s
houl
d
cont
inue
to
ris
e at
a lo
w b
ut s
tead
y p
ace
in t
he e
arly
par
t o
f 20
16.
3.8%
4.8%
0.0%
20.0
%0.
0%14
.3%
12.5
%16
.9%
55.8
%66
.7%
73.1
%
56.7
%75
.0%
85.7
%
65.6
%63
.1%
40.4
%28
.6%
26.9
%23
.3%
25.0
%
0.0%
21.9
%20
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
0.0%
3.6%
12.5
%16
.7%
4.3%
0.0%
11.1
%8.
3%
66.7
%67
.9%
41.7
%38
.9%
60.9
%50
.0%
66.7
%77
.8%
33.3
%28
.6%
45.8
%44
.4%
34.8
%50
.0%
22.2
%13
.9%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
5.1%
4.9%
6.4%
8.9%
6.8%
6.6%
13.1
%11
.3%
59.4
%61
.4%
61.7
%61
.3%
60.7
%61
.1%
60.1
%64
.1%
35.5
%33
.7%
32.0
%29
.9%
32.5
%32
.3%
26.8
%24
.6%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
5.7%
4.7%
3.8%
8.7%
8.8%
4.7%
11.2
%10
.5%
57.9
%57
.6%
55.0
%60
.6%
51.6
%62
.8%
57.4
%61
.4%
36.4
%37
.6%
41.2
%30
.7%
39.6
%32
.6%
31.4
%28
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
5.6%
5.5%
10.6
%4.
2%7.
8%9.
1%18
.1%
11.2
%
61.2
%64
.5%
74.1
%67
.7%
67.2
%54
.5%
62.5
%66
.5%
33.1
%30
.0%
15.3
%28
.1%
25.0
%36
.4%
19.4
%22
.3%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
12
RE
CR
UIT
ME
NT
Co
mp
anie
s th
at h
ave
recr
uite
d in
the
last
thr
ee m
ont
hs.
53.0
%
47.
0%
Yes
No
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
The
re w
as a
sha
rp f
all i
n th
e nu
mb
er o
f b
usin
esse
s re
crui
ting
in t
he la
st q
uart
er
of
2015
. Thi
s fo
llow
s a
tren
d s
een
thro
ugho
ut t
he y
ear
and
ind
icat
es a
sl
ow
do
wn
in t
he jo
bs
mar
ket.
53.8
%34
.8%
61.5
%46
.7%
42.9
%57
.1%
59.4
%66
.2%
46.2
%65
.2%
38.5
%53
.3%
57.1
%42
.9%
40.6
%33
.8%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
54.5
%39
.3%
37.5
%33
.3%
45.8
%
15.4
%
72.2
%63
.9%
45.5
%60
.7%
62.5
%66
.7%
54.2
%
84.6
%
27.8
%36
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
59.4
%45
.6%
54.9
%48
.7%
42.5
%44
.0%
47.6
%57
.3%
40.6
%54
.4%
45.1
%51
.3%
57.5
%56
.0%
52.4
%42
.7%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
57.2
%42
.9%
62.7
%48
.8%
40.7
%52
.3%
41.2
%54
.2%
42.8
%57
.1%
37.3
%51
.2%
59.3
%47
.7%
58.8
%45
.8%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
65.9
%53
.6%
48.2
%52
.1%
43.8
%34
.5%
51.4
%58
.7%
34.1
%46
.4%
51.8
%47
.9%
56.3
%65
.5%
48.6
%41
.3%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
13
RE
CR
UIT
ME
NT
EX
PE
RIE
NC
ES
Co
mp
anie
s th
at e
xper
ienc
ed d
ifficu
ltie
s in
rec
ruit
ing
.
53.0
%
47.
0%
Yes
No
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
Whi
le t
he n
umb
er o
f b
usin
esse
s re
po
rtin
g t
hat
they
hav
e ex
per
ienc
ed
diffi
cult
ies
find
ing
sui
tab
le s
taff
has
bee
n fa
lling
dur
ing
20
15 it
is s
till
at a
lmo
st
two
-thi
rds
of
tho
se t
hat
have
tri
ed t
o
recr
uit.
Thi
s fi
gur
e is
to
o h
igh
and
nee
ds
to b
e ur
gen
tly
add
ress
ed.
33.3
%
57.1
%44
.4%
6.7%
37.5
%60
.0%
41.7
%40
.9%
66.7
%
42.9
%55
.6%
93.3
%
62.5
%40
.0%
58.3
%59
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
50.0
%41
.2%
33.3
%33
.3%
23.1
%20
.0%
0.0%
16.7
%
50.0
%58
.8%
66.7
%66
.7%
76.9
%80
.0%
100.
0%83
.3%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
47.0
%46
.0%
39.7
%36
.0%
37.4
%27
.5%
35.3
%37
.3%
53.0
%54
.0%
60.3
%64
.0%
62.6
%72
.5%
64.7
%62
.7%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
50.4
%47
.9%
38.8
%40
.6%
43.1
%34
.1%
39.4
%39
.3%
49.6
%52
.1%
61.2
%59
.4%
56.9
%65
.9%
60.6
%60
.7%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
44.3
%41
.2%
42.5
%40
.0%
34.3
%17
.1%
26.5
%35
.5%
55.7
%58
.8%
57.5
%60
.0%
65.7
%82
.9%
73.5
%64
.5%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Yes
No
14
CA
SHF
LOW
Cha
nges
to
the
bus
ines
s’ c
ashfl
ow
ove
r th
e la
st t
hree
mo
nths
.
28.4
%
53.9
%
17.7
%
Imp
rove
dR
emai
ned
the
Sam
eW
orse
ned
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
Cas
hflo
w w
ithi
n b
usin
esse
s ha
ve
rem
aine
d r
elat
ivel
y co
nsta
nt o
ver
the
last
thr
ee m
ont
hs w
ith
half
of
resp
ond
ents
rep
ort
ing
no
cha
nge.
We’
ve
also
wit
ness
ed a
fal
l in
the
num
ber
of
bus
ines
ses
sayi
ng t
hat
thei
r ca
shfl
ow
im
pro
ved
and
a f
all i
n th
e nu
mb
er s
ayin
g
that
the
ir c
ashfl
ow
wo
rsen
ed.
22.0
%13
.6%
8.3%
14.3
%15
.4%
15.4
%25
.8%
19.7
%
52.0
%59
.1%
75.0
%46
.4%
38.5
%53
.8%
45.2
%37
.7%
26.0
%27
.3%
16.7
%39
.3%
46.2
%30
.8%
29.0
%42
.6%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Imp
rove
dR
emai
ned
the
sam
eW
ors
ened
40.0
%
14.8
%22
.7%
11.8
%18
.2%
8.3%
23.5
%16
.7%
20.0
%48
.1%
54.5
%58
.8%
59.1
%
41.7
%
41.2
%55
.6%
40.0
%37
.0%
22.7
%29
.4%
22.7
%
50.0
%35
.3%
27.8
%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Imp
rove
dR
emai
ned
the
sam
eW
ors
ened
17.7
%16
.6%
15.6
%12
.5%
22.3
%18
.9%
22.2
%20
.4%
53.9
%49
.1%
51.2
%55
.6%
49.2
%46
.5%
43.1
%49
.5%
28.4
%34
.4%
33.2
%31
.9%
28.5
%34
.6%
34.7
%30
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Imp
rove
dR
emai
ned
the
sam
eW
ors
ened
15.3
%19
.1%
14.3
%11
.8%
20.9
%22
.9%
18.5
%21
.3%
53.5
%45
.1%
50.0
%55
.5%
50.0
%44
.6%
42.9
%46
.6%
31.2
%35
.8%
35.7
%32
.8%
29.1
%32
.5%
38.7
%32
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Imp
rove
dR
emai
ned
the
sam
eW
ors
ened
19.9
%13
.8%
17.9
%12
.9%
28.8
%15
.7%
29.2
%19
.8%
56.3
%53
.2%
44.9
%58
.1%
49.2
%
49.0
%43
.1%
57.2
%
23.9
%33
.0%
37.2
%29
.0%
22.0
%35
.3%
27.8
%23
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Imp
rove
dR
emai
ned
the
sam
eW
ors
ened
15
INV
EST
ME
NT
- E
QU
IPM
EN
TC
hang
es t
o t
he a
mo
unt
of
inve
stm
ent
by
com
pan
ies
in p
lant
, mac
hine
ry a
nd e
qui
pm
ent.
49.
7%
37.3
%
13.1%
Incr
ease
dR
emai
ned
Con
stan
tD
ecre
ased
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
Inve
stm
ent
in m
achi
nery
and
eq
uip
men
t co
ntin
ues
to g
row
wit
h co
nsid
erab
ly
mo
re b
usin
esse
s ha
ving
incr
ease
d
inve
stm
ent
dur
ing
qua
rter
fo
ur t
han
dec
reas
ed. H
ow
ever
, we’
ve s
een
the
rate
of
inve
stm
ent
slo
win
g d
urin
g e
ach
qua
rter
of
2015
and
tha
t’s
a tr
end
tha
t co
ntin
ues
as t
he y
ear
com
es t
o a
n en
d.
4.3%
0.0%
0.0%
3.6%
0.0%
0.0%
10.3
%6.
7%
59.6
%66
.7%
50.0
%
67.9
%61
.5%
81.8
%62
.1%
53.3
%
36.2
%33
.3%
50.0
%28
.6%
38.5
%18
.2%
27.6
%40
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
0.0%
3.8%
13.6
%0.
0%4.
5%0.
0%17
.6%
11.4
%
40.0
%30
.8%
59.1
%
37.5
%45
.5%
33.3
%
41.2
%62
.9%
60.0
%65
.4%
27.3
%
62.5
%50
.0%
66.7
%
41.2
%25
.7%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
2.0%
3.3%
4.5%
4.0%
4.7%
5.3%
10.3
%11
.3%
58.5
%53
.3%
51.8
%56
.6%
56.3
%53
.3%
57.3
%59
.6%
39.6
%43
.5%
43.7
%39
.4%
38.9
%41
.3%
32.4
%29
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
1.4%
2.6%
3.2%
6.9%
8.4%
6.3%
11.0
%8.
1%
60.2
%55
.8%
54.0
%53
.4%
55.4
%58
.2%
58.9
%62
.7%
38.4
%41
.6%
42.7
%39
.7%
36.1
%35
.4%
30.1
%29
.2%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
2.4%
4.8%
5.2%
1.1%
1.7%
6.3%
6.9%
18.2
%
55.7
%52
.4%
46.8
%60
.4%
59.3
%43
.8%
55.6
%55
.8%
41.9
%42
.9%
48.1
%38
.5%
39.0
%50
.0%
37.5
%26
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
16
INV
EST
ME
NT
- T
RA
ININ
GC
hang
es t
o t
he a
mo
unt
of
inve
stm
ent
by
com
pan
ies
in t
rain
ing
the
ir w
ork
forc
e.
49.
7%
37.3
%
13.1%
Incr
ease
dR
emai
ned
Con
stan
tD
ecre
ased
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
The
tre
nd o
f sl
ow
ing
ris
es in
tra
inin
g
inve
stm
ent
seen
thr
oug
hout
20
15
cont
inue
s in
qua
rter
fo
ur w
ith
few
er
bus
ines
ses
havi
ng in
crea
sed
the
ir
inve
stm
ent
in t
rain
ing
dur
ing
the
q
uart
er c
om
par
ed t
o q
uart
er t
hree
b
ut s
till
sig
nifi
cant
ly m
ore
bus
ines
ses
are
incr
easi
ng t
heir
inve
stm
ent
than
d
ecre
asin
g.
4.3%
4.5%
0.0%
3.6%
3.8%
7.7%
13.3
%6.
7%
58.7
%59
.1%
70.8
%67
.9%
53.8
%61
.5%
53.3
%68
.3%
37.0
%36
.4%
29.2
%28
.6%
42.3
%30
.8%
33.3
%25
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
0.0%
8.0%
4.5%
5.9%
9.1%
0.0%
5.9%
8.3%
80.0
%
24.0
%
59.1
%47
.1%
54.5
%
33.3
%
70.6
%55
.6%
20.0
%
68.0
%
36.4
%47
.1%
36.4
%
66.7
%
23.5
%36
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
1.8%
3.5%
2.0%
4.6%
4.8%
3.1%
8.5%
10.4
%
54.2
%44
.7%
54.1
%57
.1%
50.5
%53
.5%
63.0
%62
.7%
44.0
%51
.8%
43.9
%38
.3%
44.7
%43
.4%
28.5
%26
.9%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
1.4%
3.1%
1.6%
7.3%
6.0%
4.8%
8.0%
10.3
%
53.1
%40
.3%
47.6
%53
.7%
47.0
%57
.8%
62.6
%61
.1%
45.6
%56
.6%
50.8
%39
.0%
47.0
%37
.3%
29.4
%28
.6%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
1.8%
2.9%
2.7%
1.1%
1.8%
0.0%
8.5%
12.2
%
54.2
%53
.3%
58.1
%60
.2%
52.6
%49
.0%
66.2
%65
.0%
44.0
%43
.8%
39.2
%38
.7%
45.6
%51
.0%
25.4
%22
.8%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
17
TU
RN
OV
ER
EX
PE
CTA
TIO
NS
- N
EX
T 1
2 M
ON
TH
S
67.8
%
24.0
%
8.1%
Incr
ease
Rem
ain
Con
stan
tD
ecre
ase
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
Bus
ines
ses
are
confi
den
t o
f hi
ghe
r tu
rnov
er in
20
16 w
ith
over
hal
f ex
pec
ting
th
eir
turn
over
to
incr
ease
in t
he n
ext
year
. Des
pit
e th
is, f
ewer
are
co
nfid
ent
of
incr
easi
ng t
urno
ver
than
last
qua
rter
.
17.0
%0.
0%0.
0%3.
6%0.
0%0.
0%12
.9%
16.4
%
14.9
%27
.3%
27.3
%25
.0%
24.0
%
66.7
%32
.3%
21.3
%
68.1
%72
.7%
72.7
%71
.4%
76.0
%
33.3
%54
.8%
62.3
%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
20.0
%8.
0%4.
5%5.
9%18
.2%
0.0%
6.3%
16.7
%
20.0
%24
.0%
31.8
%11
.8%
22.7
%
8.3%
12.5
%
27.8
%
60.0
%68
.0%
63.6
%82
.4%
59.1
%
91.7
%81
.3%
55.6
%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
8.1%
7.7%
5.3%
5.5%
10.1
%7.
0%13
.5%
16.7
%
24.0
%23
.2%
24.4
%24
.6%
25.0
%28
.0%
30.2
%28
.3%
67.8
%69
.1%
70.3
%69
.9%
64.9
%65
.0%
56.3
%55
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
6.5%
7.6%
4.8%
6.7%
9.8%
9.6%
11.3
%13
.7%
21.8
%15
.9%
17.7
%20
.2%
23.2
%28
.9%
32.1
%28
.3%
71.8
%76
.4%
77.4
%73
.1%
67.1
%61
.4%
56.5
%58
.1%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
8.2%
9.3%
7.7%
4.3%
11.9
%6.
0%20
.5%
22.2
%
30.6
%32
.7%
32.1
%32
.6%
28.8
%22
.0%
28.8
%30
.8%
61.2
%57
.9%
60.3
%63
.0%
59.3
%72
.0%
50.7
%47
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
18
PR
OF
ITA
BIL
ITY
EX
PE
CTA
TIO
NS
- N
EX
T 1
2 M
ON
TH
S
67.8
%
24.0
%
8.1%
Incr
ease
Rem
ain
Con
stan
tD
ecre
ase
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
The
dip
in c
onfi
den
ce w
ith
reg
ard
to
p
rofi
ts s
een
thro
ugho
ut 2
015
see
ms
to b
e tu
rnin
g w
ith
a sl
ight
ris
e in
the
nu
mb
er o
f b
usin
esse
s ex
pec
ting
to
see
th
eir
pro
fits
gro
w c
om
par
ed t
o la
st
qua
rter
and
slig
htly
few
er e
xpec
ting
the
ir
pro
fits
to
fal
l.
19.1
%4.
8%0.
0%14
.3%
8.0%
16.7
%23
.3%
18.0
%
25.5
%33
.3%
31.8
%
28.6
%32
.0%
41.7
%43
.3%
32.8
%
55.3
%61
.9%
68.2
%57
.1%
60.0
%41
.7%
33.3
%49
.2%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
20.0
%12
.0%
18.2
%23
.5%
22.7
%16
.7%
17.6
%16
.7%
20.0
%32
.0%
45.5
%23
.5%
45.5
%
16.7
%23
.5%
30.6
%
60.0
%56
.0%
36.4
%52
.9%
31.8
%
66.7
%58
.8%
52.8
%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
10.3
%9.
4%8.
2%9.
4%11
.7%
13.5
%23
.7%
18.7
%
28.7
%31
.4%
32.7
%28
.2%
31.4
%33
.3%
30.4
%34
.9%
61.0
%59
.2%
59.2
%62
.4%
56.9
%53
.2%
45.9
%46
.3%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
8.5%
7.1%
8.1%
5.9%
9.8%
13.3
%20
.6%
15.5
%
25.5
%27
.6%
24.2
%24
.4%
26.8
%37
.3%
31.5
%36
.0%
66.0
%65
.4%
67.7
%69
.7%
63.4
%49
.4%
47.9
%48
.6%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
10.6
%13
.1%
7.8%
9.9%
11.9
%12
.2%
32.4
%25
.0%
35.3
%36
.4%
42.9
%34
.1%
32.2
%28
.6%
23.9
%34
.8%
54.1
%50
.5%
49.4
%56
.0%
55.9
%59
.2%
43.7
%40
.2%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
19
PR
ICE
/CO
ST E
XP
EC
TAT
ION
S -
NE
XT
12
MO
NT
HS
67.8
%
24.0
%
8.1%
Incr
ease
Rem
ain
Con
stan
tD
ecre
ase
Wal
es
Reg
iona
l Bre
akd
own
- C
ard
iff C
apit
al C
ity
Reg
ion
Reg
iona
l Bre
akd
own
-Sw
anse
a B
ay C
ity
Reg
ion
Reg
iona
l Bre
akd
own
- M
id W
ales
Reg
iona
l Bre
akd
own
- N
ort
h W
ales
Sum
mar
y
Wit
h al
mo
st a
thi
rd o
f b
usin
esse
s ex
pec
ting
the
ir p
rice
s to
ris
e in
the
nex
t th
ree
mo
nths
and
sig
nifi
cant
ly m
ore
tha
n ex
pec
ting
the
ir p
rice
s to
dec
reas
e w
e sh
oul
d e
xpec
t co
sts
to r
ise
dur
ing
the
ea
rly
par
t o
f 20
16.
2.0%
4.5%
12.5
%7.
4%0.
0%0.
0%13
.3%
13.1
%
72.5
%77
.3%
62.5
%59
.3%
69.2
%92
.3%
60.0
%55
.7%
25.5
%18
.2%
25.0
%33
.3%
30.8
%7.
7%26
.7%
31.1
%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
2.3%
3.6%
0.0%
0.0%
4.3%
0.0%
0.0%
8.3%
69.8
%85
.7%
95.7
%94
.4%
69.6
%72
.7%
86.7
%58
.3%
27.9
%10
.7%
4.3%
5.6%
26.1
%27
.3%
13.3
%33
.3%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
4.1%
4.0%
2.1%
3.9%
3.1%
3.8%
6.7%
8.4%
72.7
%75
.6%
80.3
%70
.5%
75.8
%73
.4%
63.7
%61
.7%
23.1
%20
.4%
17.6
%25
.6%
21.1
%22
.8%
29.6
%29
.9%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
4.2%
4.1%
0.0%
4.2%
3.5%
4.9%
4.8%
6.0%
74.2
%72
.8%
81.0
%65
.8%
78.8
%76
.8%
64.3
%63
.7%
21.6
%23
.1%
19.0
%30
.0%
17.6
%18
.3%
31.0
%30
.3%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
5.1%
3.7%
3.8%
3.2%
3.3%
3.8%
9.9%
11.0
%
70.9
%77
.1%
79.7
%75
.3%
76.7
%63
.5%
59.2
%61
.0%
24.0
%19
.3%
16.5
%21
.5%
20.0
%32
.7%
31.0
%28
.0%
0%
10%
20%
30%
40
%50
%6
0%
70%
80
%9
0%
100
%
Q1
2014
Q2
2014
Q3
2014
Q4
2014
Q1
2015
Q2
2015
Q3
2015
Q4
2015
Incr
ease
dR
emai
ned
Co
nst
ant
Dec
reas
ed
Equipment 29.1%
(-3.3 pts)
Training 26.9%
(-1.6 pts)
UK: sales 39.7% (-1.8 pts)
orders 37.6% (+0.3 pts)
Exports: sales 39.4% (+3.9 pts)
orders 35.9% (+5.3 pts)
The number of Welsh businesses expecting their
profits to increase in the next year remains below 50%.
46.3% (+0.4 pts)
According to the latest Quarterly Economic Survey from the
Chambers of Commerce in Wales:
This Quarterly Economic Survey relates to the period between October and December 2015.
The number of Welsh businesses reporting improving UK sales and
orders has changed little.
The number of Welsh businesses reporting improving overseas
sales and orders has increased.
Plans for increased investment
Mid WalesChamber of CommerceConnect. Effect. Grow
South WalesChamber of CommerceConnect. Effect. Grow
![Insperity Business Confidence Survey: Q1 2015 [Infographic]](https://static.fdocuments.in/doc/165x107/55bda85bbb61eb39228b478c/insperity-business-confidence-survey-q1-2015-infographic.jpg)
![Insperity Business Confidence Survey: Q2 2013 [Infographic]](https://static.fdocuments.in/doc/165x107/547cb25db4af9fbe158b532e/insperity-business-confidence-survey-q2-2013-infographic.jpg)
