YORKSHIRE companies reported improved business conditions during February, said a new survey.
The latest Lloyds TSB Yorkshire & Humber Purchase Managers’ Index showed output rose “at a robust pace” last month – with new business growing at its fastest rate since last April.
However, firms continued to report a surge in their input costs.
Higher cost burdens have now been recorded for 17 consecutive months.
Private sector companies in the region have now recorded higher levels of business activity for 21 months in a row.
A number of companies linked the higher levels of new work to improved client confidence during February – with new business growing faster than the average and now standing at a 10-month high.
Phil Hawker, area director for Lloyds TSB Commercial in Yorkshire, said: “Private sector business conditions continued to improve at a robust pace in February.
“Both output and new business growth remained strong, with the latter accelerating to a 10-month high.
“This positive trend underpinned a solid rise in employment and the rate of private sector job creation was the third-fastest since the survey began in January, 1997. However, a steep rate of input price inflation was recorded by companies in the region, largely reflecting a surge in fuel and raw material costs”.
