Resurgence recorded in private sector output

A resurgence has been recorded in the output of the UK's private sector, with all areas of the UK experiencing growth in business orders so far in 2012.

The data was published by the Lloyds TSB regional Purchasing Managers’ Index, which shows that weaker input price pressures provided support to businesses, while job creation has also improved.

Eight of the nine major regions in the UK saw a rise in the number of private sector jobs being created in the first month of 2012, with the West Midlands and Yorkshire experiencing a particularly significant rise in employment.

Commenting on the report, John Maltby, group director at Lloyds TSB Commercial, said it shows there was a solid improvement in private sector business conditions at the start of the year.

"The West Midlands topped the growth table during the month - as the region's resurgent manufacturing sector fuelled the fastest overall rise in output levels for almost two years - while London and the South East saw further growth after the sharp contractions seen at the end of 2011," he added.

He said the "encouraging news" about local business activity was bolstered by reports of easing cost pressures, especially amongst manufacturers, with the slow rise in input prices helping keep output charges stable.

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Posted by Wayne Bly

Filed: 14-02-2012