Employment up but activity slows, says PMI
The East Midlands reported the strongest growth in employment of all the UK regions in October. That's according to the latest Purchasing Managers' Index (PMI) from Lloyds TSB.
Business activity also continued to increase during the month, albeit at a slower pace than September. The rate of expansion in the region also eased, in line with that of new orders.
The business activity index – which measures the combined output of the region’s manufacturing and service sectors – fell to 51.6 in October, from 55.5 in September.
Higher production requirements led companies to increase employment again in October, at the fastest rate of all the UK regions covered by the survey.
Roger Galbraith, area director for Lloyds TSB Commercial in the East Midlands and Lincolnshire, said: "Although business activity in the East Midlands increased at the slowest pace for more than two years, growth was still recorded during October, and the rate of expansion was faster than that seen across the UK as a whole.
"There was further encouraging news regarding the region’s labour market, with employment rising at the sharpest pace of all UK regions."
