BUSINESS conditions in Yorkshire and the Humber showed tentative signs of improvement in July, despite ongoing global uncertainty.
According to the latest NatWest Regional Growth Tracker, activity in the region softened but stabilised, with a less steep decline in output and employment.
Malcolm Buchanan, chair of the NatWest North regional board, said: “There were some encouraging signs from the latest Yorkshire & Humber Growth Tracker, particularly with regards to customer demand which stabilised following a period of decline amid geopolitical issues.
“Although still muted, the inflow of new orders was such that firms posted softer reductions in output and employment levels as the second half of the year began.”
The Yorkshire & Humber Business Activity Index rose to 49.1 in July from 45.5 in June.
While the index remained below the 50.0 mark that signals growth, it represented the slowest rate of decline in the current downturn.
New orders stabilised after four months of decline, though firms reported that subdued customer confidence and market uncertainty continued to affect demand.
Some businesses did, however, note improved export orders.
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Employment in the region’s private sector fell for the twentieth consecutive month, mainly due to cost-saving measures.
However, the rate of job losses was the slowest since last October.
