More signs of economic recovery have come with a survey showing business activity in the South East rose for the first time since last May - and at the fastest rate in 18 months.
The latest PMI survey data from NatWest and IHS Markit shows an increase in new order book volumes in South East, while staff numbers rose for the first time in six months and firms鈥 output expectations strengthened to the highest since July 2018.
The headline NatWest South East Business Activity Index 鈥 a seasonally adjusted index that measures the combined output of the region鈥檚 manufacturing and service sectors - posted a reading of 53.0 in January, up from 49.4 in December. Scores above 50 signifity growth.
The South East registered the third-fastest upturn in output across the 12 monitored 海角视频 regions, behind only the East of England and London, while private sector firms in the region recorded back-to-back monthly increases in new business during January and companies reported improving market confidence.
There was a major gap between sectors, however, with service companies recording a further increase in new business, while manufacturers reported a sharp decline.
Stuart Johnstone, NatWest鈥檚 managing director for corporate and commercial banking in London and the South East, said: 鈥淧rivate sector activity in the South East rose for the first time since May last year during January, with growth the quickest for 18 months.
鈥淢oreover, the South East recorded the third-fastest uptick in output across the 12 monitored 海角视频 regions. Driving the latest expansion was a second successive monthly increase in new business, which rose sharply amid reports of stronger client demand.
鈥淥n a positive note, uncertainty appears to be subsiding as we enter the New Year, with private sector firms in the South East reporting the strongest output expectations since July 2018 in January. Respondents attributed optimism to prospects of greater clarity following Brexit as well as an improvement in demand conditions.鈥
Last week, two closely-watched economic surveys pointed to upturns in improvements in key sectors following the Conservatives鈥 decisive election victory.
Bosses in the construction sector have seen a noticeable boost in business following the Tories鈥 decisive election victory, according to IHS Markit/CIPS Purchasing Managers鈥 Index.
And IHS Markit鈥檚 data on the manufacturing sector stabilised in January as it was buoyed by increased political stability.
