Omicron shackles appear to have been shaken off as business activity strengthened through January in the region.
A faster expansion on the manufacturing and services sector was witnessed, with the headline NatWest Yorkshire & Humber PMI Business Activity Index registering at 56.1, up 54.7 from December.
Once again the region outpaced most of the 海角视频, ranking third out of the 12 monitored regions.
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Richard Topliss, chair of NatWest North Regional Board, said: “January PMI data was positive on balance for Yorkshire & Humber as business activity growth re-accelerated, new orders and employment both continued to rise and businesses remained exceedingly optimistic towards 2022 prospects.
"That said, downside risks were still apparent, and resided on the supply side once again.
“Operating capacities remained stretched as ongoing shortages of items at vendors delayed the provision of goods and services. Firms were also impacted by staff availability issues as the spread of Covid-19 pushed workers into self-isolation. Inflation risks also worsened, with output prices rising at a new record rate, reflecting more aggressive price setting by firms as they struggle to cope with intense cost pressures."
The expansion in new orders quickened since the end of last year amid stronger sales performances at service providers. New business at manufacturers meanwhile improved moderately.
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Looking ahead, private sector companies in Yorkshire & Humber recorded a strong level of optimism towards activity levels over the coming 12 months compared to the other 11 monitored 海角视频 regions. Only London-based firms recorded a greater degree of confidence.
Survey data showed another strong monthly increase in the level of employment across Yorkshire & Humber-based businesses during January. Jobs growth was recorded by both manufacturers and service providers amid reports of efforts by firms in both sectors to expand operating capacities.
Although strong, the increase in staffing levels was the weakest in four months and slower than seen for the 海角视频 as a whole.
Adjusted for seasonal variance, the Outstanding Business Index remained above the 50.0 no-change mark and therefore indicated growth in backlogs of work. The increase accelerated since last December to the quickest for three months.
According to panel members, low staff availability - in part due to workers having to self-isolate - and delayed lead times on inputs and other products hindered businesses' ability to process orders in a timely manner.
Once again, the seasonally adjusted Input Prices Index posted above by a substantial margin, signalling a steep increase in operating costs. This was despite the rate of inflation easing further from last November's series record.
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Items purchased from suppliers continued to fuel the inflation spike, according to firms, as demand and supply imbalances pushed up their prices. Higher utility costs were also a factor, however.
Prices charged by companies in Yorkshire & Humber for goods and services increased at a series-record rate during January as both manufacturers and service providers were more aggressive in their price setting.
Where an increase in selling charges was reported, most businesses attributed this to higher costs.