Propsects continue to improve for Yorkshire firms, according to two separate surveys today .
The latest Business Trends report by accountants and business advisers BDO said short-term prospects were at their highest level since March, 2011 – as manufacturing and service sector output increased during August.
And the latest data from Lloyds Bank Commercial Banking showed that the sharp output growth seen over the summer months continued into August – though slightly down from July’s peak.
Business confidence also continued to rise, according to BDO’s Optimism Index, which increased for the seventh month running.
But the improving business climate was not matched by a pick-up in new jobs. BDO’s Employment Index remained unchanged at 97.0 and has only moved up by 0.6 points in the last five months. Input prices recorded a twelfth successive increase and rose at the fastest pace for two years.
The Lloyds Bank Commercial Banking Business Activity Index measuring the combined output of the region’s manufacturing and service sectors fell from 59.8 in July to 57.3 in August – but remained well above the 50.0 no-change mark separating growth from contraction and indicated the 10th successive increase in business activity in the region.
New orders also continued to expand sharply in August.