Business activity in the Yorkshire & Humber’s private sector rose for the sixth consecutive month in April.
This was signalled by the headline Lloyds TSB Yorkshire & Humber Business Activity Index – a seasonally adjusted index that measures the combined output of the region’s manufacturing and service sectors –remaining above the 50.0 no-change mark. At 55.7, up from 53.3 in March, the index was the highest amongst all nine English regions and consistent with a strong rate of growth.
Firms linked the increase in activity to greater client demand and new contract wins. Concurrently, the volume of new business received by private sector companies rose strongly in April, although at a slightly weaker pace than March’s near two-year peak.
Commenting on the Lloyds TSB Yorkshire & Humber survey, Martyn Kendrick, area director for Lloyds TSB Commercial Banking in Yorkshire, said:
“Yorkshire & Humber’s private sector picked up in April, with the rate of business activity growth the strongest since January 2012. The latest increase in activity partly reflected a strong rise in new business, and was the second-strongest among the 12 UK regions behind Wales
“Despite this, it is disappointing that the increases in activity and new business have not yet translated into renewed job creation, with firms on the whole reporting job losses for the third month running.”