North East sees strongest rise in new business in nearly three years
A monthly tracker of the state of the North East business scene has returned some of its most positive results in years.
The latest Growth Tracker data from NatWest highlighted sustained expansion in business activity across the North East economy in July.
According to the tracker, which monitors monthly changes in both the manufacturing and service sectors, the region achieved a score of 52.6 in July, up from 52.0 in June. Scores above 50 indicate economic growth.
Surveyed businesses reported stronger demand for goods and services, marking July as the fourth consecutive month of rising new orders.
The growth rate in business activity was the sharpest seen in nearly three years, and companies responded by increasing staffing levels for the fifth time this year.
NatWest further noted that the pace of job creation was the fastest since late 2021, with new roles being added across both sectors.
In addition to this positive trend, companies in the North East exhibited the highest level of business confidence in over three years. This optimism was driven by anticipated new product launches and the potential for securing new clients.
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