Business confidence in Wales has declined sharply in the last quarter, according to a survey by the Institute of Chartered Accountants in England and Wales and consultants Grant Thornton.
The ICAEW/Grant Thornton Business Confidence Monitor is now in negative territory, following the downward trend of previous quarters.
According to the latest survey, concerns affecting businesses in the region are likely to be headed by the ongoing steel crisis as well as wider uncertainties such as the EU referendum.
A business confidence score of -4.5 was recorded this quarter, a sharp decline from +27.4 recorded 12 months ag
Martin Warren, ICAEW Wales Director said: “One of the major issues likely to be affecting business confidence in Wales is the threat of steel plant closures.