The North West has seen a fall in the number of people in work drop for the eighth month in a row, a new study has shown.
The regional Purchasing Managers’ Index (PMI), published by lender Lloyds TSB on Monday, showed businesses are not taking on staff despite an increase in new orders for the fifth successive month.
Business activity in the region’s private sector expanded slightly during October against the national trend.
Leigh Taylor, area director for Lloyds TSB commercial said the “solid” growth in new orders had been driven by increased marketing, a rise in export orders and the launch of new products.
He said: “Despite this, manufacturers posted a decline in output over the month and the region saw a further reduction in jobs, continuing the trend that started in March, while input and output prices both increased following reports of increased raw material, fuel, and energy costs.”