South West business confidence has hit lows not seen since the start of the first national Covid lockdown according to a new report, with firms indicating they have been impacted by the cost of living crisis.
The region's private sector saw a further slowdown in business activity last month, the latest NatWest PMI found, with the weakest increase in output since March 2021.
The softer rise in activity coincided with only a marginal expansion in new orders, as firms indicated the increasingly uncertain economic outlook had made clients hesitant to spend.
