Yorkshire firms record sharpest growth in activity for 23 years

The historic rise was supported by marked expansion at both manufacturing and service providers.

The headline NatWest Yorkshire & Humber Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors – registered 64.6 in August, up from 59.7 in July.

The latest reading pointed to the sharpest expansion in Yorkshire and Humber business activity since data collection began in January 1997.

Richard Topliss, Chair, NatWest North Regional Board, commented: “The Yorkshire and Humber private sector grew at an unprecedented rate during August, in a sign that the region is well on its way to a recovery from the Covid-19 crisis.

"New business increased at the quickest pace for two-and-a-half years as more firms reopened following temporary closures.”

New business secured by private sector firms in Yorkshire and Humber continued to rise markedly in August.

At the sub-sector level, the result was predominantly driven by a marked increase in demand at manufacturing firms.

However, private sector employment continued to fall in August, according to the survey.

The survey report said: "Although still softer than at the height of the COVID-19 outbreak, the rate of workforce contraction accelerated for the second month in a row and was historically marked. When explaining job cuts, some panellists mentioned restructuring their business models amid the COVID-19 crisis."