It has recently been reported that companies based in the region vastly increased their June output, meaning there has now been 14 months of continuous growth.
The purchasing managers’ index report for the north west revealed that there has also been a continued improvement in operating conditions, with the services and manufacturing sectors in particular experiencing growth and sharp increase in output.
The chief executive of the Northwest Regional Development Agency, Steven Broomhead, said:
“The latest PMI data provides further encouraging pointers for the north west economy. We should be optimistic as both output and new business continues to rise, however we need to remain focused and cautious as the rate of expansion was weaker this quarter compared to the first quarter of the year.”
Despite this note of caution in Mr Broomhead’s comments, the results have proved to be another positive sign for the region as a whole and the fact that businesses are continuing to show that they can tough out the current economic scenario.
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