Business activity in the North West rose marginally in February as firms remained "strongly optimistic" about the outlook for the next 12 months.
The latest NatWest Regional PMI survey has shown that while only "very little" ground lost in January's sharp fall in output was recovered, there were reasons for positivity - and expectations rose to the highest since last September.
Each region is given an index reading based on the survey, with any number over 50 showing growth and with higher numbers showing faster growth.
In the North West, that figure was 50.3 - just above the 'no change' level, following a reading of 37.1 last month as the third national lockdown began.
Lockdown measures continued to weigh on inflows of new business at firms in the North West during February.
But having deteriorated sharply in January, the level of new business showed only a marginal decline in the latest survey period, matching the trend seen across the 海角视频 as a whole.
Richard Topliss, chairman of NatWest North Regional Board, said: "February was another difficult month for many businesses across the North West as lockdown measures continued for a second month.
"A PMI reading of 50.3 highlights that the level of business activity was not materially different to that seen in January and therefore still down compared to late last year, but it does at least confirm that the local economy has been more resilient in the face of the latest lockdown than was the case last spring.
Most Read
"As well as having to contend with restrictions on activity and challenging demand conditions, local firms also face pressure from rising costs that stem from global supply shortages and increased shipping fees. Nevertheless, businesses in the region have continued to grow in confidence about the outlook, with activity widely expected to pick up as restrictions are lifted over the coming months."
Despite the challenges, NatWest said firms remained "strongly optimistic" about the outlook for the next year, with expectations the highest since last September and slightly above the historical average.
Panellists surveyed said that was due to optimism over lockdown measures being lifted over the coming months - releasing "pent-up demand" and driving an upturn in activity..
A number of surveyed businesses highlighted that school closures had impacted order intakes.
Elsewhere, employment across the North West private sector fell at a slower rate during the month.
How NatWest is supporting BusinessLive
NatWest is the national partner of BusinessLive.
The banking group is teaming up with BusinessLive on a series of events throughout the year aimed at entrepreneurs and business leaders.
Alongside a wide range of banking services, NatWest offers businesses specialist sector knowledge in areas such as manufacturing and technology, as well as access to specialist entrepreneurial support.
Though still below the neutral 50.0 threshold, the respective seasonally adjusted index was its highest for 11 months and at a level indicative of a "modest drop" in payroll numbers.
Don’t miss
Backlogs of work at firms in the North West were down for the fifth month in a row in February, while cost pressures faced by firms continued to intensify.
The rate of input price inflation jumped to its highest for more than two years and moved further above its long-run series average.