Job creation strengthens amidst output drop - PMI
The West Midlands had the weakest rise in output for two years but created the most jobs in the UK during August. That's according to the latest data from Lloyds TSB.
Business activity levels rose at the slowest pace since July 2009, said the Purchasing Managers' Index (PMI), which tracks the combined output of the region’s manufacturing and service sectors.
However, levels of new business placed were among the highest in the UK and job creation in the West Midlands was the strongest of all 12 UK regions covered.
David Garbutt, area director for Lloyds TSB Commercial in the West Midlands, said: "Economic uncertainty and disruption from the recent public disturbances impacted on West Midlands activity growth in August. There were signs of underlying resilience, however, as new business rose at a faster pace while employment increased at the strongest rate of all 12 UK regions.
"Things may not, therefore, be as bleak as suggested at face value by the marked monthly decline in the headline output index."
