Business activity in the West of England was severely impacted by the coronavirus pandemic in April, according to the latest NatWest PMI survey.
Efforts to halt the spread of the virus, including temporary company closures, led to the biggest drop in business activity and new orders since the survey began in January 1997.
The headline South West Business Activity Index - a seasonally adjusted index that measures the combined output of the region’s manufacturing and service sectors - declined sharply from 36.7 in March to just 12.9 in April.
The fall in new orders was the steepest in the series history, with 88 per cent of respondents noting lower sales.
Fewer new orders meant companies were able to work through backlogs at an "unprecedented pace" but also contributed to a record fall in employment.
Weaker demand conditions contributed to job cuts and South West private sector employment fell at the quickest rate since the survey began in 1997 as companies implemented redundancies and placed staff on furlough.
Meanwhile, operating expenses fell for the first time in more than four years, while firms continued to cut their output charges as part of efforts to secure new work.
Average input prices declined for the first time since January 2016, and at the sharpest pace for 22 years. Lower staffing costs and reduced prices for input such as oil were widely cited by panel members.
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At the same time, companies cut their selling prices at the quickest rate on record as part of efforts to stimulate sales.
Sentiment regarding output over the next year improved only slightly from March's record low.
While firms in the South West were generally more optimistic than the average 海角视频 business, worries persisted about how long any public health measures will remain in place and how severe these will be.
Paul Edwards, chair of the NatWest South West Regional Board, said: “With the Covid-19 pandemic and strict lockdown measures bringing vast swathes of the economy to a standstill, the latest NatWest PMI data has shown unprecedented decreases in business activity across each and every part of the 海角视频 in April.
"The South West has seen a greater fall in both output and new orders than the average 海角视频, with tourism and other consumer-facing sectors particularly hard hit amid social distancing and restrictions on movement.
“South West firms remain apprehensive about the outlook and are faced with tough decisions about how best to navigate the challenges over months ahead.
"Despite widespread uptake of the government furlough scheme, April has still seen many redundancies and, without a swift recovery, unfortunately there could be more to come.”