London has continued to outperform the rest of the 海角视频 economy as wider economic conditions remain challenging, the latest results from a major national economic survey have shown.
The latest NatWest Regional PMI figures show that business confidence improved in 10 of the 12 nations and regions of the 海角视频 in December.
NatWest said that indicated there was renewed optimism in the economy after a subdued 2019.
But London was the only region that saw a rise in business output in December. Even the surrounding South East was subdued.
The PMI figures give each region a Business Activity Index rating, where any reading above 50 signifies growth. London reported 51.6 - showing a modest rate of growth - while Scotland reported 50, showing unchanged output.
All other areas saw output fall. The worst decline was in Northern Ireland, with a Business Activity Index of 44.2.
In terms of new business growth, London also led the rankings - though the South West and West Midlands also saw demand improve modestly.
London led the employment growth league table in December, with its strongest increase in headcounts since last July. The South West and East of England also saw rises in workforce numbers, while employment returned to growth in the North West and Northern Ireland. The North East saw the steepest fall.
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The East Midlands reported the highest level of optimism. That was weakest in Northern Ireland - though even that figure was at an 11-month high.
Sebastian Burnside, NatWest chief economist, said: “Though London was again the clear standout in December in terms job creation and overall growth, the latest data do suggest that many of the 海角视频’s regions will be starting the new year on a firmer footing as we see more instances of higher demand, employment and business confidence than in previous months.
“2019 was a year to forget for many regional economies. Northern Ireland and the North East stood out as two of the worst-performing areas when looking at the PMI surveys across the year.
"However, even in areas that have been hit particularly hard in 2019, there is now renewed optimism that the unwinding of economic and political uncertainty will support business activity as we move into a new decade.”
Stuart Johnstone, NatWest's managing director for London and the South East for corporate and commercial banking, said: “The performance of the London private sector remained heads and shoulders above the rest of the country in December, posting increases in activity, new business and employment that were faster than those seen anywhere else in the 海角视频."
He added: “The South East ended 2019 on a weak footing, with private sector activity contracting for the fourth month in a row, although the rate of decline softened from November and was only mild. Weighing on the performance of the sector was a further reduction in workforce numbers, although the job shedding eased to a fractional rate.
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“The manufacturing sector continued to weigh heavily on the overall performance of the South East, with goods producers recording the quickest fall in output for the second month running.
“There were some positive signs, however, with incoming new business rising for the first time since last April and output expectations for the coming year strengthening to a six-month high.”