THE latest PMI North-west Report shows that the overall level of business activity in the region expanded marginally in October.
But weak growth in demand restricted efforts to stimulate output expansion. The survey saw further pressure on profit margins in the region and the pace of labour-shedding in the North-west was more acute than the national average.
The PMI (Purchasing Managers' Index) North West Report is produced for The Royal Bank of Scotland by NTC Research.
Margaret Holligan, Senior Economist at The Royal Bank of Scotland, said: "North-west firms reported that activity levels had increased for the ninth successive month during October.
"Furthermore, the level of demand in the regional economy rose for the second consecutive month, whilst the
pace of new business expansion accelerated slightly.
"However, profit margins of the region's companies were squeezed, as input costs increased and output charges declined. "Employment levels fell during the month, as they have done continuously since April 2001."
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