Business confidence in the North East has risen for the third consecutive month, reaching its highest level since July 2024, according to the latest NatWest Growth Tracker survey. This optimism is driven by planned new product launches and expansion initiatives, including increased staffing levels.
Despite this growing confidence, overall business activity in the region moderated in September, with the Business Activity Index dipping to 49.3, indicating a slight decrease for the first time since May. This slowdown is attributed to subdued demand, with firms linking falling sales to muted client confidence and domestic economic uncertainty.
Companies in the North East experienced a stagnation in demand during September, and employment levels continued to fall for the tenth month in a row. However, the rate of job shedding was the softest among the UK areas reporting declining staffing levels. While backlogs of work were depleted, new orders remained subdued.
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