London again led 海角视频 regional growth in February, a major new market report has shown - but business confidence nationwide is now being hit by the coronavirus outbreak.
The latest NatWest Regional PMI report, which tracks changes in the goods and services sectors, showed output rose in most regions in February. But some regions were by the end of the month already starting to see disruption from the coronavirus outbreak.
Under the PMI index, a Business Activity Index reading above 50 is a sign of economic growth.
London's index stood at 56, though that was below January's 33-month high.
Other strong performers were Wales (53.7) and the North West (53.0), which rose in the rankings alongside Yorkshire & Humber (52.7).
NatWest said business activity rose in the South West (50.2) and North East (50.1) – though only fractionally – for the first time in 12 and 10 months respectively.
Growth slowed in the (52.8), South East (52.6), East Midlands (52.1) and West Midlands (51.2). In Scotland output stagnated at 50.1, while there was a further contraction in Northern Ireland.
London and Northern Ireland jointly led job creation in February. But while January 11 regions reported higher employment, in February just six did, with the South East, West Midlands, East Midlands, North West and Scotland recorded declines in payrolls.
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Sebastian Burnside, NatWest chief economist, said: "The number of 海角视频 regions reporting growth of business activity reached the highest for 16 months in February, in what was a further sign of a post-election recovery in demand. London in particular has seen a turnaround in fortunes over the past year and continued to see the greatest improvement in terms of output, but solid growth was also seen across the likes of Wales and the North West.
“The post-election bounce in hiring lost some momentum in February, with the number of region’s recording higher employment dropping from 11 in January to just six. This tallies with the evidence from the surveys that, in most regions, firms appear to be already operating below full capacity.
“It’s important to note that the results from February’s survey, which included an improvement in business confidence across the majority of 海角视频 areas, show the state of affairs prior to the escalation of the coronavirus in Europe [February data were collected 12-26 February]. How the spread of the virus has affected businesses at a regional level will be highlighted by the PMI surveys over the coming months.”