The new Yorkshire & Humber Business Activity Index published by NatWest shows that levels of productivity among small and medium-sized enterprises (SMEs) in the region are coming close to record monthly levels.
This report is released each month, and it looks at productivity for both the service and manufacturing industries in the region. The June figures show that the combined productivity of these rose to 64.5, compared with 63.7 for May, with this being the largest rise in output for the region’s private sector since August of 2020.
Last August set the productivity record for the NatWest index, and the Yorkshire and Humber region output level for June this year was just 0.1 lower. The region ranked third out of the 12 surveyed in the index when it came to speed of output growth during June, with only Wales and the North West experiencing more rapid expansion in productivity.
Indeed, so encouraging are the figures for the region that many firms may be looking to accountants in Goole or other parts of it to help them secure the investment needed to further expand.
Speaking to The Business Desk, NatWest North Regional Board Chairman Richard Topliss said:
“Out of the 12 monitored UK regions, Yorkshire & Humber was just one of two where activity growth actually accelerated on the previous month. Supporting the latest expansion was a further strong improvement in demand conditions, which firms linked to loosening lockdown restrictions.”
London was the other region to experience an acceleration in growth compared with May.