Happy Business Man

New figures have revealed that the outlook for businesses in the Humber and Yorkshire is improving following the easing of lockdown restrictions, with the downturn starting to slow.

The latest NatWest Yorkshire and Humber PMI stats found that firms in these areas had experienced a notably softer decline during June than at any other point since the pandemic first hit. Last month saw the number of new orders for these businesses rise, marking the first increase since March – and making it one of only three UK areas to experience an upturn.

The Yorkshire and Humber Business Activity Index, put together by NatWest, examines the service and manufacturing output for the region each month, noting changes in their levels. The figure for June was 49, which is a significant increase on the 28.9 figure for the month before.

The overall contraction in business activity among private firms in the Humber and Yorkshire during June was less than the average for the UK as a whole, with the index showing clear signs that manufacturing firms in the region were starting to bounce back.

Speaking to Business Live, Richard Topliss from NatWest said:

“Though only marginal, the improvement in demand conditions should give local businesses the confidence to start ramping up operations now that restrictions are being eased, and the region should see a rise in activity in the coming months.”

Some of these firms may turn to business accountancy services in South Yorkshire to help plan their financial futures following the crisis.

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