Business confidence in the South West fell by two points during February to 33 per cent, according to the latest Business Barometer from Lloyds Bank Commercial Banking.

Companies across the region reported lower confidence in their business prospects at 33 per cent, down five points from last month, while economic optimism remained unchanged at 32 per cent.

Companies in the South West saw their confidence in their business prospects fall five points to 33 per cent, while their economic optimism stands unchanged at 32 per cent.

Together, this gives an overall confidence of 33 per cent, which is two points below last month’s figure of 35 per cent, and in line with the national average.