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A summary of this month’s Purchasing Managers’ Index reports – click through to your region below.
Last updated: 06 Nov 2020 2 min read
In October, regional economies were hit by a rise in coronavirus cases and tougher restrictions.
Sebastian Burnside, NatWest chief economist, commented: “There was a clear downswing in momentum across all regional economies in October, as rising coronavirus cases led to new restrictions on activity and increased uncertainty.
“Tougher rules in Scotland in October and a ‘firebreak’ in Wales led to marked decreases in business activity during the month, and we can expect similar patterns across England in November as the new lockdown restrictions come into effect.
“A drop in expectations across most regions shows that businesses are anticipating a tough end to the year, yet still they remain strongly confident of being able to turn things around once the worst of the pandemic has passed.
“For now, many businesses are in survival mode, which has unfortunately meant further job cuts. The extension of the furlough scheme and other measures announced by the Government will be critical to limiting the impact through winter.”
Please see the regional reports in full: