A mixed picture of private sector confidence and activity across the 海角视频 is shown in latest research from NatWest.
Just half of 海角视频's nations and regions saw an increase in business activity in July, according to the bank's 海角视频 Regional PMI (purchasing managers' index) survey, with the same picture also applying for employment and inflows of new business.听
Wales and London were the two fastest growing areas for business activity during the month.
The Wales business activity index climbed to a five month high of 53.2, while London recorded a reading of 52.8 鈥 its best since September last year. Despite these improvements, however, the figures remained lower than their respective long-run averages.
The index tracks monthly changes in the output of goods and services across the private sector.
Anything below 50 denotes contraction.
The East of England (51.6) and Yorkshire & Humber (51.0) both saw further modest increases in private sector output in July, while there was negligible growth in the North West and Scotland (both 50.2).
The six 海角视频 areas that saw a decrease in business activity in June all remained in contraction in July.
The worst performer was again Northern Ireland (45.0). However, here, as well as in the East Midlands (48.5), North East (48.8) and West Midlands (49.7), the rate of decline slowed.
Output again fell marginally in the South East (49.7), with only the South West (48.6) slipping deeper into contraction.
New business
London topped the regional rankings for new business growth in July, with firms in the capital seeing a notable upswing in demand. Yorkshire & Humber and Wales were ranked second and third having also seen faster increases in new orders.
听By far the steepest drop in new work was in Northern Ireland, while more modest decreases were recorded in the South East, North West, North East, South West and East Midlands.
With continuing uncertainly over the 海角视频's future trading relationship with its biggest export market in the European Union, first estimate figures from the Office for National Statistics last Friday showed the 海角视频 economy contracted 0.2% in the second quarter of this year.
Two consecutive quarterly of declining GDP denotes a technical recession
Job creation
Yorkshire & Humber led job creation for the second month running in July, ahead of London. These were the only two regions where employment rose at a faster rate, with slower growth seen in the East of England, North West, West Midlands and South East.
听The steepest falls in staff numbers were recorded in the East Midlands and Northern Ireland respectively, while there were also modest job cuts in Wales and the South West.
Outlook
Firms in Yorkshire & Humber were the most optimistic about future output for the fourth month in a row in July, despite confidence in the region easing to the weakest since April. Making up the top four were the West Midlands, Wales and North West, which all saw notable improvements in sentiment.
听Expectations were lowest in Northern Ireland, where the number of firms expecting output to rise was broadly equal to those predicting a fall.
听
听
Sebastian Burnside,听NatWest听chief economist, said: 鈥淭he latest PMI business surveys showed that the 海角视频 remained a country somewhat divided in terms of regional economic performance in July, with just half of areas seeing a rise in output of goods and services, and the rest remaining stuck in contraction.
"The mixed regional picture also applies to new orders and jobs, with the number of areas recording rising employment slipping back down to just six (out of 12) from nine in both May and June.
鈥淭wo of the brightest spots are Wales and London. Wales has placed in the top three for business activity growth in each month of 2019 so far, with its acceleration in July helping cement its position at the top of the rankings.
"Firms in the capital are making up for a slow start to the year, as pent up demand feeds through to growing inflows of new business.
鈥淎t the other end of the spectrum, the downturn in business activity in Northern Ireland has extended into the second half of the year, as Brexit uncertainty continues to weigh on both domestic and export demand.鈥
