The North West has experienced a decline in output and new orders, with levels reaching their lowest since February 2009.
That’s according to the latest NatWest PMI Report, which revealed a “disappointing” end to the third quarter.
The NatWest North West business index fell from 47.1 in August to 46.4 in September, the second successive decline in private-sector output in the region and the sharpest since July 2012.
The report said the region had the second-fastest reduction in output of the 12 海角视频 regions covered, behind only Northern Ireland.
According to survey respondents, there was a “weakness” in client demand leading to lower business activity.
Brexit uncertainty was blamed as it made customers “reluctant” to commit to new projects, the report said.
The report also revealed a reduction in staffing levels in the region for the first time in 17 months and business confidence also fell to the lowest since 2012.
“Anecdotal evidence suggested that companies were reluctant to take on extra staff in a deteriorating demand environment,” it said.
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Meanwhile, input costs continued to rise, but the rate of output price inflation slowed and was only marginal, it added.
Richard Topliss, chair of NatWest North Regional Board, said:“The sharpest decline in new orders since the financial crisis highlights the difficulties being faced by firms in the North West at present, with continued uncertainty ahead of the looming Brexit deadline putting off clients.
“In fact, the region seems to be one of the worst affected across the country, with only the vulnerable Northern Ireland economy seeing sharper reductions in business activity and new orders in September.
“Local firms will therefore be hoping that the country’s future direction becomes clearer soon.”