Regional Business Information for the West Midlands
West Midlands economy contracts in June to align with UK picture
9th July 2012
By Duncan Tift - Deputy Editor, West Midlands
Image: jscreationzs / FreeDigitalPhotos.net
THE economy of the West Midlands contracted in June and is now in line with the performance of the rest of the UK, disappointing new figures have shown.The latest Lloyds TSB West Midlands PMI® report for June shows business activity declined to 51.4, down from 53.9 in May and the lowest reading since August 2011. Over the past three months the Index has fallen by 8.6 point.The national rate for June was 48.6, however, this was up on May's three-year low of 45.9.The performance suggests the West Midlands is now aligning itself m......for the full story register now for free or login below...
Please be more accurate - a decline in the rate of growth to a lower level - which is what is happening in the West Midlands according to the figures you report - is NOT the same as the West Midlands economy contracting which is what your headline says - it means its growing more slowly not contracting!
Roger Harmer