Last month saw one of the weakest business performances In the South West since the global financial crisis in March 2009, as firms reported ‘recessionary fears’ in new research.
Business activity in the South West firms contracted at the sharpest rate for almost two years with firms in the region pointing to recent political and economic uncertainty for the downturn.
Private sector firms operating in the region signalled a fourth successive monthly reduction in new work. Businesses reported reduced client confidence and spend, as the “gloomy” economic outlook prompted hesitancy, according to the research from NatWest.
