Region’s economy boosted by higher orders

THE NORTH West’s economy showed an improvement according to the latest Purchasing Managers Index survey, with activity fuelled by new orders.

The study, which is carried out by analysts Markit, showed that growth rates for new orders accelerated in September for the first time since February. Sales levels had improved on the back of a more favourably economic environment and as a result the pace of job shedding slowed down and was largely confined to the services sector.

Manufacturers reported that rates of outstanding orders had contracted, citing greater efficiencies for the decline in the amount of work in progress.
The survey also found that output price inflation had slowed down, but remained higher than the UK average. Costs, however, continued to rise, due to higher fuel and raw materials prices.