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Economic Development

Growth spreads across the º£½ÇÊÓÆµ as companies get more confident, latest PMI results reveal

NatWest Regional PMI report shows more regions recording growth than they did at the end of last year

The latest NatWest Regional PMI report showed more regions reporting growth (Image: Andrew Matthews/PA Wire)

Businesses across the º£½ÇÊÓÆµ got more confident in their prospects in January as their activity grew and employment rose, according to a new study.

The latest NatWest Regional PMI report showed more regions recording growth than they did at the end of last year.

Nine of the 12 regions and nations studied reported a rise in output, while 11 of those regions saw employment rise.

Each region is given a Business Activity Index, where a reading above 50 shows growth.

The biggest output growth was in London, where the index rose to a near three-year high of 56.5, while the East of England was second with 54.1.

In the South West, output was stable with an index of 50 - but the North East and Northern Ireland saw declines, with index ratings of 48.2 and 46.8 respectively.

The North East was the only region to see a decrease in employment, though the rate of decline was the weakest for five months.

Businesses in Yorkshire and the Humber were most optimistic about the future, followed by the West Midlands and Wales. Scotland was at the bottom of the rankings.