FIRMS across the region enjoyed an increase in new orders during March, according to the latest Lloyds Bank Regional Purchasing Managers’ Index (PMI).
Demand for their goods and services grew at the fastest pace since November 2013, meaning businesses took on staff at a faster rate than the UK average, marking the seventh consecutive month of employment growth in the region.
Yorkshire’s business activity PMI registered at 57.2, up from 55.3 in February.
A reading above 50 signals growth in business activity, whereas a reading below signals decline.
The pace of increase in activity was the third-quickest experienced in the country, coming close behind the North West (57.5).
Leigh Taylor, regional director for Yorkshire at Lloyds Bank Commercial Banking, said: “Yorkshire was one of the best performing regions during March, with increases in new business wins, output and employment showing the current strength of the region’s economy.”
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