Tuesday 15th October 2019
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Brighter times on the horizon for region’s private sector

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Demand in the East of England's private sector stabilised in May and employment increased for the first time this year whilst the 12 month outlook for activity also brightened, according to a key survey of purchasing managers. After falling for the previous three months, the volume of new business won by private sector firms was unchanged. The NatWest East of England business activity index rose to 49.7 in May from 48.8 in April - signalling a fractional decline in output. The improvement in the region was in keeping with national trends and firms in the region saw backlogs of work fall for the seventh month running.

Having shed jobs in the first four months of the year, private sector employers recruited at a faster rate than the long-run average in May, driven mainly by service providers. Moreover expectations on output strengthened for the third month running to the highest level  since July 2018, partly linked to firms’ new projects coming on stream. Average prices charged for goods and services by East of England private sector firms rose at the strongest rate in four months.

Last Updated ( Tuesday, 13 August 2019 07:20 )