THINGS are looking up economically in Yorkshire, but inflation is casting its shadow.
That is the conclusion of the Lloyds TSB Yorkshire & Humber Purchasing Manager Index (PMI) report.
Its survey, from a representative panel of companies based in Yorkshire & Humber and operating in both manufacturing and service sectors, shows that output in the region increased at a strong rate in March. Job creation eased to a three-month low and while there was a high rate of input inflation, output charges rose relatively modestly.
However, private-sector firms continued to face a steep rate of input price inflation during March.
The Lloyds TSB Yorkshire & Humber Business Activity Index – which measures the combined output of the region’s manufacturing and service sectors – registered 57.9 in March, down from 58.2 in February, and indicated a strong increase in activity levels.
Continuing the trend that started in July 2009, Yorkshire firms reported a higher level of new business volumes in March.
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