There is cause for optimism, despite a softening of business growth in the South West and a fall in staffing levels at firms in the region for the ninth straight month.
According to the Nat West, growth was up for the seventh month in a row, but according to its Growth Tracker the rate in the region slowed, slipping from 53.9 in June to 51.1.
Nat West described the growth was the ‘softest’ since February and only marginal.
UK-wide business activity also expanded at a slower rate. Staffing levels at private sector firms in the region fell for the ninth straight month in July, with the rate of job-shedding the quickest since February.
Faye Long, chair of the NatWest Sout West Regional Board, said: “The tracker showed that South West private sector firms struggled to maintain growth momentum in July amid a slowdown in customer demand.
“The fresh fall in sales coincided with reports of squeezed client budgets and greater uncertainty over the economic outlook.
“Cost concerns were also evident am…
