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Welsh economy forging ahead says minister
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Cardiff's ministers have welcomed new data revealing that business activity in Wales is higher than across the UK as a whole.

According to the Purchasing Managers' Index (PMI) for Wales, which is published by the Royal Bank of Scotland, levels of business activity have increased for the 16th consecutive month.

Activity expanded during July at a faster rate compared with last month.

The manufacturing sector was the main driver of the growth in the activity index, which rose at a higher rate than the UK private sector average.

The seasonally adjusted employment index also rose for the 13th consecutive month during July - rising by a faster rate than the UK index.

Welsh economic development minister Andrew Davies said: "This latest report is further confirmation of the strength and buoyancy of our economy, and a strong endorsement of the success of our economic policies.

"With business activity rising at a faster rate than in the rest of the UK, Wales is continuing to punch well above its weight in building a highly successful economic environment, attracting and developing top quality organisations and employment opportunities."

Published: Mon, 9 Aug 2004 12:14:19 GMT+01

"With business activity rising at a faster rate than in the rest of the UK, Wales is continuing to punch well above its weight in building a highly successful economic environment, attracting and developing top quality organisations and employment opportunities"