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North West output growth slowed to fractional pace in July as new business fell for a third month in a row.
The latest NatWest PMI report, published today, says the slowdown also softened job creation as well. Output prices rose at the weakest rate in over three years.
However, despite this firms in the region gave an improved outlook for activity in the year ahead.
The headline North West Business Activity Index – a seasonally adjusted index that measures the change in the combined output of the region’s manufacturing and service sectors – fell from 51.4 in June to 50.2 in July.
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