The latest NatWest survey of industry leaders showed a strong decline in East Midlands business activity during December.
The bank’s monthly PMI Business Activity Index for the region suggested the fastest fall in new orders since May 2020 and a drop in the number of jobs – however it also suggested inflationary pressures had eased.
The survey comes after the Office for National Statistics revealed the UK economy unexpectedly grew in November and reduced the risk of the country entering a recession. The ONS recorded an increase of 0.1 per cent as the services sector remained in growth despite the soaring cost of living.
