Wales remains steady with a prosperity score of 0.20.
|Household expenditure||£447 per week|
|Insolvency rates||18.9 per 10,000 population|
Wales has kept its ranking year-on-year, staying in tenth place with a prosperity score of 0.20, down slightly from last year’s figure of 0.23.
Wales has seen one of the UK’s highest increases in GDP per capita, up 2.8% from last year. Only the North West saw higher growth at 3.0%. The region also had the most positive change in unemployment in the UK, which was down 1.4% year-on-year, bringing total unemployment in Wales down to 4.6%.
Household expenditure was up just 0.6% to £447 per week. Only the North East was lower, at £424 per week. House prices were up 4%, keeping Wales at seventh-highest in the UK, with average prices at £145,086, just above the North West at £144,695 and below the East Midlands at £170,509. Wales also jumped five places in education rankings and is now in sixth place for exam achievement.
While Wales remains at the bottom of the average earnings tables, earnings did see some growth at 3.4% to reach £24,233. This is the third-highest increase in the UK, behind only West Midlands (+3.9%) and Northern Ireland (+3.6%). Despite a 0.01% increase in the business birth-to-death ratio, Wales dropped one place to eleventh, with a ratio of 1.34 businesses created for every ‘death’.
Wales gained 1,000 new millionaires year-on-year, up to 12,500. This represents a 2.0% share of millionaires in the UK, the same as Northern Ireland and just above the North East’s 1.9% share.