Increases in both output and employment in EnglandStaff Writer | February 16, 2017
Businesses in England reported increases in both output and employment for the start of the year, although at a slower rate than in December, according to the latest Lloyds Bank Regional Purchasing Managers’ Index (PMI).
Britain Business Activity PMI read 55.8 in January
It was a different story in Wales, however, where business activity rose at the fastest rate since March 2015, with the PMI at 59.6. The rate of job creation in the country also reached a 20-month high and outstripped all areas of England.
The Lloyds Bank Regional PMI is the leading economic health-check of regions across England and Wales. It is based on responses from businesses in the manufacturing and service sectors about the amount of goods and services produced each month compared to the previous one.
While all areas of England saw a rise in business activity, the only areas where activity increased at a faster rate month-on-month were the West Midlands (60.1) and the North West (58.1).
Employment growth in England was the slowest seen since September last year – index at 51.9 – but still broadly in line with the average for 2016 as a whole. ■