Job creation and expansion on the rise, says PMI
Output in the East Midlands grew at a "solid pace" during December while rates of expansion and employment also both increased, according to new research.
According to the latest purchasing managers' index from Lloyds TSB East Midlands, the business activity index - which measures the combined output of the region’s manufacturing and service sectors - rose to 53.3 from 49.9 in November.
Input costs rose markedly throughout the four weeks, said the research, and firms were able to pass these increases on to clients through higher charges.
The rate of expansion was broadly in line with that seen across the UK economy as a whole.
Roger Galbraith, area director for Lloyds TSB Commercial in East Midlands and Lincolnshire, said: "The final month of 2011 brought a welcome return to growth in business activity among East Midlands companies.
"Although economic conditions remained fragile going into 2012, firms continued to increase their employment during December due to stronger workloads. Both input costs and output prices rose at faster rates, but inflationary pressures remained much weaker than seen earlier in the year."
