New jobs in the East of England were created at the fastest rate in over a year in August as private sector output rose sharply during the month. The NatWest growth tracker index for the East of England rose to 53.9, from July's 51.0, its fastest rate in over two years. Workforce numbers across the region’s private sector rose for the third month running in August as firms stepped up recruitment to handle growing workloads. Meanwhile, the rate of charge inflation fell for the second month running easing to a 44-month low.

Dipesh Mistry, chair of the NatWest Midlands and East of England regional board, said: "A sustained increase in new business drove the fastest expansion in total activity in the East of England in over two years in August, as the region caught up with the UK as a whole...Promisingly, there was further evidence of price pressures receding as charge inflation hit a near four-year low and fell in line with its long-run trend level. This, and the knock-on impact of lower interest rates, underpinned strong confidence regarding the 12-month outlook. Expectations continued to run relatively high despite easing since July."