Business activity in the South West has continued to grow “modestly”, as some firms were impacted by staff shortages or lower than anticipated sales, according to a new NatWest report.
The bank’s South West PMI Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors - signalled its second successive monthly increase in activity across the region, following its first rise for seven months.
Bosses told researchers a sustained uptick in new business was linked to improved client confidence and spending. Overall confidence among companies hit a 13-month high, with NatWest saying respondents reclaimed “highly upbeat” that output would rise further over the coming months.
