Business levels reach new high

Phil Hawker area director for Lloyds TSB Commercial in Yorkshire .jpg
Phil Hawker area director for Lloyds TSB Commercial in Yorkshire .jpg
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Business conditions in Yorkshire and Humber improved strongly in February, according to the latest Lloyds TSB Purchasing Managers Index report.

Lloyds TSB Commercial area director for Yorkshire and Humber, Phil Hawker, said: “Private sector business conditions in Yorkshire and Humber continued to improve at a robust pace in February. Both output and new business growth remained strong, with the latter accelerating to a ten-month high. This positive trend underpinned a solid rise in employment, and the rate of private sector job creation was the third- fastest since the survey began in January 1997.

“However, a steep rate of input price inflation was recorded by companies in the region, largely reflecting a surge in fuel and raw material costs.”

Researchers say private sector firms in the region have recorded higher levels of business activity for 21 months running.

Growth in new business reached a ten-month high in Yorkshire and was growing faster than the UK average.