North East economy stays in growth, business survey suggests
The NatWest Growth Tracker found the regional economy had stalled slightly in June
The North East economy stalled slightly in June as it ended a four-month run of increasing growth, a business survey suggests.
The NatWest Growth Tracker – which measures month-on-month change in the region’s manufacturing and service sectors – fell from 54.0 in May to 52.0 in June. Though that score still denotes a growing economy, it is the softest level of growth since March.
Companies surveyed for the report reported healthy order book volumes and a third consecutive month of growth in new business. There was also a sharp increase in hiring in the region, with new workers brought in to aid production and activity requirements and to support companies’ growth plans.
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