West Midlands firms were among the most upbeat across the UK regarding the year-ahead outlook for business activity in November.
A marginal decline in new business curbed charge inflation, as some firms sought to encourage spending by either reducing or leaving their fees unchanged.
The West Midlands Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors – was at 49.9, little-changed from 50.0 in October and therefore signalling a broadly stable level of output across the region.
Amid reports of the passing on of rising expenses to clients, prices charged for West Midlands goods and services continued to increase in November.Efforts to stimulate sales reportedly constrained the uptick. West Midlands companies remained upbeat towards the year-ahead outlook for output. In general, panellists expect advertising, inbound tourism, lower borrowing costs and new product releases to underpin growth in the year ahead.
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