English regions stumble into second quarter.

Key points:

• Majority of English regions report weakest output performance in 2012 to date
• New business growth remains muted outside of London and the West Midlands
• Cost inflation eases fractionally in April
• Marginal private sector job creation continues
• Welsh business activity reaches 14 month high

April witnessed a reversal of the English regional growth upturn seen in the previous month, according to the Lloyds TSB regional Purchasing Managers’ Index® (PMI®), which was published today. At 52.6, down from 55.3 in March, the index measuring overall private sector business activity in the English regions was the lowest since November 2011, but still above the 50.0 mark that separates expansion from contraction. The moderation in output growth was replicated across all the regions monitored in April, with the exception of the North East where lower levels of business activity were recorded for the second month running.   
 

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