LLoyds TSB reports further rise in output

COMPANIES continued to increase output during October, according to a report out today.

The latest Lloyds TSB Yorkshire and Humber Purchase Managers’ Index said activity in the region’s private sector rose at the fastest pace since March.

Yorkshire also logged the second strongest increase in output among the 12 UK regions.

Employment levels were broadly unchanged – ending a four-month period of job losses – while the rate of input price inflation was the weakest since December, 2009.

The headline Lloyds TSB Yorkshire & Humber Business Activity Index – which measures the combined output of the region’s manufacturing and service sectors – registered 55.2 in October, up from 53.5 last time.

The rate of activity growth was the fastest in seven months – with both manufacturers and service providers reporting higher levels of output.

However, the rate of new order growth remained moderate.

Outstanding business fell for the ninth consecutive month in October.

Martyn Kendrick, area director for Lloyds TSB Commercial in Yorkshire, said: “Business conditions in Yorkshire’s private sector have improved sharply since the slight dip registered in August.”