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English regions help drive º£½ÇÊÓÆµ economic recovery after coronavirus lockdown, latest NatWest PMI results show

'July's survey provided some eye-catching numbers, not least a near-record growth of business activity in the West Midlands'

Signage for the 'Eat Out to Help Out' scheme, at the Regency Cafe, in London, one of the participating restaurants where diners will be able to enjoy half-price meals,(Image: PA)

The English regions have helped drive the º£½ÇÊÓÆµ economy forward as the country starts to recover from the coronavirus pandemic, new figures have shown.

The latest NatWest Regional PMI data for July showed increases in business activity across all nine English regions and Northern Ireland.

The PMI index tracks the monthly change in the output of goods and services in the private sector, with any reading above 50 signalling growth.

The index showed "especially strong rates of growth" in the West Midlands (61.9), North East (60.4), Yorkshire & Humber (59.7) and the South West (59.7).

Scotland lagged behind the rest of the º£½ÇÊÓÆµ at 49.3,though the downturn was the weakest seen since coronavirus hit. In Wales, business activity broadly stabilised at 50.2 after four months of decline.

The survey showed showed a further "broad-based decrease in employment" across the º£½ÇÊÓÆµ regions, with London showing the steepest overall decline.

Expectations were generally positive across the º£½ÇÊÓÆµ, with only Northern Irish firms downbeat about the overall outlook. NatWest said: "Confidence improved in most regions, including Yorkshire & Humber and the West Midlands, which recorded the joint-highest overall optimism."

Sebastian Burnside, NatWest chief economist, said: "The PMI data suggest that a two-speed recovery has emerged across the º£½ÇÊÓÆµ, which is closely associated with the pace at which each nation has lifted lockdown measures. England has had a head-start in its recovery and is reaping some economic benefit of a quicker reopening, with Scotland and Wales playing catch up.