Newspaper article The Journal (Newcastle, England)

Output Declines Once More

Newspaper article The Journal (Newcastle, England)

Output Declines Once More

Article excerpt

BUSINESS activity in the North East fell last month at the fastest rate in nearly three years.

The fourth monthly decline in output was linked to weak client demand and job losses were reported for the second month running, according to the Lloyds TSB North East Business Activity Index.

The seasonally adjusted index that measures the combined output of the region's manufacturing and service sectors remained below the 50.0 no-change mark for the fourth consecutive month in June, signalling a further reduction in private sector output.

At 46.9, down from 47.9 in May, the index indicated the sharpest contraction since August 2009.

Around 14% of firms reduced their staffing levels from May. The rate of decline was the sharpest in 34 months and the strongest among all 12 UK regions.

Outstanding business at monitored companies fell for the fifth consecutive month in June. The latest reduction in backlogs of work was the strongest in 33 months. …

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