Orders up but activity sluggish, says PMI
Business activity in the East Midlands reached a point of stagnation during November, according to the latest Purchasing Managers' Index (PMI) from Lloyds TSB.
But despite a slowdown, which was attributed to weakened client demand, businesses appeared to expect a growth hike as they took on extra staff for the 14th month running.
The expansion of new business in the region during November was also stronger than the UK average.
The Lloyds TSB East Midlands business activity index – which measures the combined output of the region’s manufacturing and service sectors – posted a dip to 49.9 in November, from 51.6 in October.
Jon Pulford, area director for Lloyds TSB Commercial in Northamptonshire, said: "Difficult economic conditions both at home and abroad brought a halt to business activity growth in the East Midlands in November.
"The solid rises in output seen earlier in the year are now a thing of the past, with uncertainty prevalent in the run-up to Christmas. The region's labour market remained a key strength, with employment growth again the fastest of all UK regions in November."
