Monday 21st May 2018
Home General Business News Strong service sector drives recovery

Strong service sector drives recovery

E-mail Print PDF

A stronger service sector was behind a rise in business activity at East of England private companies in December and employment levels saw the first rise in four months, according to a purchasing managers index.

The Lloyds PFI index in the region rose to 50.8 in December, after a decline to 49.2 in November and in contrast to a slowdown in activity recorded nationally. The upturn was mainly driven by service sector companies. New business rose in the region,helped by new contracts and more new clients.

Outstanding business in the region continued to fall during December, but at the slowest pace in nine months with lower backlogs at manufacturing firms. But the rate of input price inflation in the region picked up to the highest level in nine months and was higher than the UK average.Prices charged by firms in the region rose in December.

Steve Elsom, area director for Lloyds TSB Commercial in East Anglia, said: “Companies across the East of England returned to growth during December, after struggling to increase business activity in November.”

Last Updated ( Thursday, 21 February 2013 14:00 )