The NatWest Growth Tracker suggests the highest level of job creation in the North East since late 2021
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 showed sustained growth in business activity across the North East economy in July. The tracker, which measures month-on-month change in the region’s manufacturing and service sectors, returned a score of 52.6 in July, up from 52.0 in June, where scores of 50 or above translate to growth in the economy.
Businesses involved in the survey pointed to improved demand for goods and services, with July being the fourth successive month in which new orders increased. The rate of growth was the most pronounced for nearly three years and companies in the region increased staffing levels for the fifth month in a year. NatWest said that the pace of jobs growth was the fastest since late 2021, with new posts being created across both the manufacturing and service sectors.
Companies in the North East were also at the most positive about their futures for more than three years, pointing to new product launches and hopes of new client wins to support their positivity.
