Partner Article

Region outpaces national rate

THE North East private sector economy continued to outperform the UK in August, as expansions in both new business and employment accelerated while output growth remained marked.

However, both input and output prices increased at faster rates, signalling a build-up of inflationary pressures in the region.

The latest North East PMI figures show demand for region’s private sector goods and services remained solid in August as business conditions improved further.

Allan Little, principal economist at regional development agency One North East, said: “We’re not out of the woods but this summer has been encouraging for the North East.

“The survey indicates that business activity continued to expand at a solid pace and faster than all other regions in August. Despite rising costs of production and uncertainty over the outlook, both manufacturing and services have been leading the regional recovery.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .