Yorkshire and the Humber continues to outperform much of the 海角视频 when it comes to business activity growth, despite the pace of expansion easing to a six-month low.
Manufacturing and service sectors’ output was only topped by London when it came to regional breakdown, with Scotland and Wales also slightly ahead.
Data feeding into the NatWest Yorkshire & Humber Business Activity Index – a seasonally adjusted measure of month-on-month change - showed a further strong increase in new business.
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Panel members said demand conditions remained strong as the end of lockdown measures continued to boost sales.
Job growth quickened sharply month-on-month.
Richard Topliss, chair of the NatWest North Regional Board, said: "Yorkshire & Humber's economy remained in firm expansion mode during August, outperforming the 海角视频 as a whole and the vast majority of the other regions monitored by the survey. There was a further slowdown in growth, which dipped to a six-month low. While robust demand conditions were a key factor supporting higher levels of business activity, some businesses mentioned that they were impacted by material and labour shortages.
"That said, forward-looking indicators from the survey provided reason for optimism. Employment growth accelerated as businesses looked to expand their capacities, while businesses grew more confident towards activity over the coming 12 months."
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The index score came in at 55.5 for August, down from 59 in July.
Outstanding work increased for a sixth successive month, with longer lead times due to supply chain disruptions, staff shortages and strong new order growth all contributing.
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Businesses also faced another month-on-month surge in input costs, although the rate of inflation eased for the first time since January. Sector data indicated that goods producers continued to face especially strong cost pressures, although sharp inflation was also evident at service provider level.
Price pressures were attributed to a wide array of raw materials, as well as increased shipping costs and higher labour expenses.
As has been the case since August 2020, the latest survey data signalled rising output prices across Yorkshire and the Humber. The rate of charge inflation slowed to a three-month low, but remained steep and considerably stronger than the historical average. Outlook wise, year-long optimism was at its highest since February, with the overall level of confidence also notable and the strongest of all 12 monitored 海角视频 regions.
Expectations of strong demand growth and plans to recruit additional staff underpinned it.
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