Business activity “solid” in August
Business conditions in the West Midlands’ private sector economy continued to improve during August, according to the latest Purchasing Managers Index (PMI). Overall output expansion in the region remained “solid and above the UK average”, said sponsor Advantage West Midlands.
Figures still showed evidence of continued spare capacity although price pressures showed signs of moderating and workforce numbers remained “broadly unchanged” during August, the survey said. The unchanged employment levels followed continuing increases in the previous two months.
Philip Amison, director of strategy at Advantage West Midlands, said: “August’s PMI data reports further robust growth in business activity and new orders in the West Midlands, both at rates faster than the UK average. However the figures also show an easing in the pace of growth seen in recent months, a trend starting to emerge across a range of economic data.
“Of particular concern is the stark difference between improving conditions for the region’s manufacturing sector and a service sector which has not yet seen business activity, new orders or employment return to growth.”
