The North East is leading most of the country in business activity, according to an influential survey.
The latest findings from the NatWest Growth Tracker report - which measures output from the region鈥檚 manufacturing and service sector - reveals the North East was the top performer outside of London in February. New business placed with private sector firms in the region has now increased for 11 consecutive months, NatWest said.
The tracker has given the North East a score of 53.7 in February, with ratings above 50 signalling growth in the regional economy. That was the 12th consecutive month of improvement. And while all of the 海角视频鈥檚 nations and regions saw a drop in employment in the NatWest survey, the fall was the lowest in the North East.
Coming ahead of the publication of some key statistics showing the health of the regional and national economy, the Growth Tracker is the latest report that suggests the North East is bucking a more downbeat trend in other 海角视频 regions following last year鈥檚 Budget. Last week a survey from Lloyds Bank said growing confidence among firms in the region was outstripping other parts of the country.
Sebastian Burnside, NatWest chief economist, said: 鈥淭he North East continues to play a critical role in driving business activity for the 海角视频 in 2025. For almost a year, the region has experienced continued growth, with February proving to be one of its most successful periods.
鈥淟ondon is showing great resilience, extending its growth streak to 27 consecutive months. Whilst February saw Wales and the South West moving in the right direction. But these latest figures also show the impact of higher costs and prices, with firms across the country scrutinising their staffing levels. Nonetheless, all regions report expectations that conditions will improve in future.鈥
He added: 鈥淐ost pressures remain high and continue to drive up goods and services prices, and that will likely be the case in the coming months as the changes to the national minimum wage and national insurance contributions come into effect. Despite the many challenges and uncertainties facing businesses, there鈥檚 still confidence that activity levels will grow in the coming year, though in all likelihood more slowly than the long-run trend.鈥
The Growth Tracker has been released ahead of the publication of some some key economic data, including official figures this week on 海角视频 GDP and trade figures in January, while the latest regional and national unemployment rates will be published next week.
