East Midlands leads expansion activity, says PMI
Recovery in the East Midlands’ private sector “gathered pace” during October. That’s according to the monthly Purchasing Managers’ Index (PMI), which signalled a return to employment growth in the region.
The East Midlands recorded the fastest expansion of business activity in the country over the last month.
The PMI also said that both output and new business activity increased at sharper rates.
The headline seasonally adjusted Business Activity Index – which measures the combined output of the region’s manufacturing and service sectors – rose to 57.4 in October, from 54.1 in the previous month.
An increase in business activity was “driven by the manufacturing sector”, according to the index. The latest rise was the steepest since May, and was faster than the UK economy average.
Although new orders increased, companies continued to work through existing projects in October, resulting in a further reduction in outstanding business that was steeper than the UK economy average.
After two successive months in which employment fell, the month also saw a return to job creation in the East Midlands private sector.
