London firms saw staffing levels rise in March as businesses started hoping for a steep rebound in the economy, the latest edition of a prestigious survey has shown.
The latest edition of the NatWest London Business Activity Index showed business activity in the capital rose sharply in March.
The index measures the output of London’s manufacturing and service sectors, with any number above 50 showing the economy is growing.
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It rose from 52.1 in February to 54.4 in March, showing a sharp rise in activity and the first back-to-back expansion for five months - though the capital underperformed compared to the 海角视频 average.
The companies polled predicted a good year ahead, with record levels of confidence,
And job numbers in the city increased for the first time in over a year, with almost a fifth of businesses hiring additional workers during the month as they expected business to grow once lockdown is lifted.
But firms did see costs rise overall thanks to rising raw material and shipping prices and increases in salaries.
Stuart Johnstone, NatWest’s managing director, London & South East, corporate & commercial banking, said: “London’s March PMI data showed signs of a build-up in activity ahead of the planned reopening of non-essential businesses in the second quarter.
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"With expectations of sharp growth ahead, new order volumes rose solidly and firms raised employment numbers for the first time in over a year. That said, the notable surge in activity across the 海角视频 as a whole meant that London's figures disappointed somewhat, particularly after the capital led the growth rankings in February.
"Input price inflation continued to trend upwards, suggesting that rising goods prices are starting to impact the capital's service sector. Strong demand supported efforts to pass these costs on to clients, as output charges began to rise."