Business activity in the region stagnated in June as growth expectations slipped to a six month low on the back of weakening demand.
Analysis of the latest NatWest Yorkshire & Humber PMI Business Activity Index saw manufacturing and service sectors stall a four-month run of expansion. After a tentative start to the year, February through to May had seen soft increases, but this dampened as summer arrived.
Malcolm Buchanan, chair of the NatWest North Regional Board, said: “It was a disappointing end to the second quarter for Yorkshire & Humber as business activity stagnated, ending a four-month sequence of expansion. The region has been a laggard across the UK for the majority of 2023 and this continued in June.
