Employment and orders up in September, says PMI
Business growth has "actively accelerated" in the West Midlands over the last month, according to the latest PMI survey.
Employment rose at the strongest pace in the UK over September, said the Purchasing Managers' Index (PMI), while businesses reported an increase in new orders.
The report, which tracks the combined output of the region’s manufacturing and service sectors, also said that business activity increased for the 27th consecutive month.
The latest increase in new work was the sharpest in seven months and the second-fastest recorded across all UK regions.
David Garbutt, area director for Lloyds TSB Commercial in the West Midlands, which sponsors the PMI, said: “The West Midlands saw a welcome pick-up in activity growth to a solid pace in September. Furthermore, there were particularly encouraging readings for new business and employment, the latter increasing at the strongest rate of all the UK regions.
"Meanwhile, an easing in cost pressures narrowed the gap between the input and output price indices to the lowest for ten months, pointing to an alleviation of the squeeze on companies' profit margins."
