Yorkshire output growth, but still above UK average

THE growth in Yorkshire's private sector economy fell to a seven month low in August, according to research out today.

The Yorkshire and Humber PMI, which measures the output of the region's manufacturing and service sectors, showed continued growth but at the slowest rate since January.

The headline Business Activity Index fell to 54.9 from 57.1 in July, but remained above the UK average. Both sectors reported weaker growth in business activity, with manufacturing posting slower growth than services.

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Increased business activity has been recorded for 15 successive months, however.

The panel highlighted a sustained increase in operating costs, but output charges fell slightly.

There was a slowdown in new business growth in August, with the index posting a six-month low. However, the region reported faster growth than the average for the UK.

August saw only a fractional overall rise in staffing levels.

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Patrick Bowes, chief economist at Yorkshire Forward, said: "Whilst it is evident that demand has softened to some extent in August compared to July, the rate of new order growth remains robust and amongst the strongest in the UK."

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