Manufacturing activity and employment up, says PMI
Employment has grown at its fastest rate in the past four months in the West Midlands. That’s according to the latest Purchasing Managers’ Index (PMI), which also reveals the region experienced its largest rise in new orders since April during the past month.
The regional PMI for November, sponsored by Lloyds TSB Commercial, indicated an expansion of the region’s private sector economy for the month, and suggested that incoming new work rose at the fastest pace for seven months.
Output in the West Midlands private sector also rose for a 17th consecutive month during November. Growth of activity was driven principally by the manufacturing sector.
David Garbutt, area director for Lloyds TSB Commercial in the West Midlands and Staffordshire, said: “A pick up in new business and employment boosted the West Midlands economy in November and contributed to a further solid expansion of private sector output. The region continued to benefit from its relative strength in manufacturing, as growth in that sector was supported by reports of strengthening export demand and client stock building.
"In contrast, service providers remained under pressure amid domestic economic uncertainties and public spending cuts. With this divergence in sector performance firmly established at the national level, the West Midlands appears better placed than many other UK regions in its near-term growth outlook.”
