Thursday 24th August 2017
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Growth holds up but Brexit concerns dent sentiment

Businesses activity continued to grow in the East of England in July although sentiment on future prospects fell to its weakest level for a year as uncertainty over Brexit negotiations takes its toll, according to a key survey of purchasing managers.

The Lloyds Bank East of England PMI rose to 54.6 in July, from 54.5 in June, above the UK average. However the proportion of businesses expecting a higher volume of output in 12 months time fell to 39.3, down from 50.8 in May and 57.2 per cent in March. In July, stronger demand led to higher orders and output and companies continued to hire to keep up with demand. New work continued to rise but at a slower rate and with growth in the services sector offsetting a reduction in manufacturing. Input costs also eased to the weakest level since August 2016.

Steve Elsom, regional director for SME banking in the East of England at Lloyds Bank Commercial Banking, said: “It’s encouraging to see new orders increase, but at a slightly slower pace due to post-referendum uncertainty. Cost pressures also eased to the weakest in almost a year, giving firms some much needed respite.”

Last Updated ( Wednesday, 16 August 2017 09:15 )

 

Logistics and warehousing businesses at risk

The Fulfilment House Due Diligence Scheme is the new weapon in the war on tax avoidance and firms may not realise their logistics and warehousing business is at risk, a...

Last Updated ( Wednesday, 09 August 2017 09:51 )

Planning green light for huge windfarm off Norfolk coast

ScottishPower Renewables has  received planning approval from the government  for the East Anglia THREE offshore windfarm  to be built off the Norfolk coast with a ...

Last Updated ( Wednesday, 09 August 2017 09:50 )

Sharp rise in firms facing ‘significant financial distress

The numbers of Cambridge firms in 'significant' financial distress jumped by 22 per cent in the second quarter over the period las year with some 1,400 businesses in th...

Last Updated ( Wednesday, 02 August 2017 09:57 )

Confident manufacturers planning to recruit

Manufacturing output and orders in the region have grown solidly over the past year helped by strong exports and a turnaround in the mechanical equipment sector plus he...

Last Updated ( Thursday, 27 July 2017 08:09 )

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