YORKSHIRE firms have posted a fall in orders for the first time in two-and-a-half years.
The latest Purchase Managers’ index from Lloyds TSB Commercial today said output rose for the third month running during November – but orders fell for the first time since June 2009 as firms commented on weaker underlying economic conditions.
Price inflation eased further as companies said their costs rose by the slowest rate for more than two years. However, the Business Activity Index – which measures the combined output of the region’s manufacturing and service sectors – fell to 54.2 in November.
The rate of output growth was solid and above the long-run series average, despite easing since the previous survey period. Manufacturers and service providers recorded an increase in output during November. Private sector employment in Yorkshire rose for the second consecutive month.