The NatWest purchasing managers’ index data for May highlighted a desirable combination of strong growth and receding inflation across the West Midlands.
Job shedding slowed, although some firms continued to note difficulties finding suitable candidates for open job roles. Meanwhile, business confidence hit a three-year high.
For the 16h successive month, new orders placed with private sector companies in the West Midlands rose in May. Little-changed since April, the pace of expansion was solid. According to survey participants, better economic conditions, improved client confidence and demand resilience supported sales. Output charges continued to increase in May, as several firms sought to share part of their additional cost burdens with clients. The overall rate of inflation was marked, but slowed to the weakest in nearly three-and-a-half years. Some companies reportedly refrained from hiking their fees amid softer cost pressures and efforts to boost sales. The West Midlands was around mid-table in the regional rankings for charge inflation.
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