Fall for first time in three months

February saw a reduction in business activity across the South West for the first time in three months, according to the monthly NatWest South West PMI Business Activity Index.

The index measures the month-on-month change in the combined output of the region’s manufacturing and service sectors and showed a slip from 52.0 at the start of the year to below the neutral 50.0 level at 49.3 last month.

This contrasts with a solid rise in output in the UK as a whole.

Meanwhile, after falling in each of the prior five months, employment at South West private sector businesses increased during February, the PMI report showed.

https://www.natwestgroup.com/news-and-insights/news-room/press-releases/economic-analysis/2024/mar/natwestukregionalpmi-february2024.html