Regional output rises sharply

OUTPUT in the North West’s private sector rose sharply last month, according to new figures produced by data analyst Markit.

Its Business Activity Index, which measures activity across the manufacturing and service sectors, showed economic growth for the 14th consecutive month in June.

However, Markit said that growth figures for the second quarter showed a slower rate of expansion than in the first three months of the year.

Moreover, employment rates also dipped slightly, due to company restructurings and staff not being replaced.

Input price inflation also slowed to a three-month low, although prices remained above the national average and continued to increase as energy and raw material costs rose.

Steven Broomhead, chief executive of research sponsor the North West Regional Development Agency, said: “The latest PMI data provides further encouraging pointers for the Northwest economy, bringing the current run of continuous positive growth to fourteen months.

“We should be optimistic as both output and new business continues to rise, however we need to remain focused and cautious as the rate of expansion was weaker this quarter compared to the first quarter of the year.”