Companies in Yorkshire are stuck ina “holding pattern” awaiting the outcome of Brexit negotiations.
A report from the West and North Yorkshire Chamber of Commerce showed manufacturers had increased sales over the last quarter, both home and abroad, outperforming the national average.
Some of this has been attributed to companies focusing on UK markets where customers higher up the supply chain are looking for a degree of certainty with regards delivery times and prices.
Service sector businesses continue to record growth in domestic sales although the pace slowed in the last quarter, down slightly from its four year peak last quarter. Employment across the service sector remains strong also with 44 per cent of companies attempting to recruit in the first quarter of 2019.
Chamber chair, Gerald Jennings, said “Business confidence is now down to levels last seen in 2016. Against a backdrop of slowing global growth and Brexit uncertainties, investment in plant and machinery slowed markedly in the last quarter across the region as companies hold off major purchases until they better understand what trading conditions they face.”
He added that decision making had been “paused”.