According to the latest UK Business Confidence Monitor, the region is facing brighter prospects thanks to the Chinese carmaker's plans to resume small scale production at the former MG Rover factory.

The study gave the area a rating of +7.2, which was significantly up from a score of -11 in the first quarter of 2006. In contrast, the national average figure was set at +5.2. This was down from a high of +9.9 recorded in the third quarter of last year.. Overall, business confidence across the UK has seen a downward trend while the west Midlands has risen for two consecutive quarters.