North West business activity outpaces national average

An increase in new orders for North West firms contributed towards the fastest rise in business activity for three months during July.

A reading above 50 shows growth, whereas a reading below indicates contraction.

Improved market conditions led to business confidence increasing from June’s post-election low, although optimism remains historically weak, with concerns continuing around Brexit uncertainty.

The Lloyds Bank PMI is based on responses from manufacturing and services businesses about the amount of goods and services produced during July compared with a month earlier.