Confidence is at highest level in over four years

THE North East economy returned to growth and confidence levels have reached their highest point in more than four years, an influential business survey suggests.

- GRAEME WHITFIELD

NatWest's North East Growth Tracker, which measures change in the region's manufacturing and service sectors, increased from 49.3 in September to 52.3 in October, with scores above 50 signalling growth in the region's private sector activity.

The expansion in activity in the North East outpaced the UK average, with only London and the South East seeing greater increases in activity than the North East.

The rise in work came alongside a further easing in inflationary pressures, NatWest said, which contributed to renewed employment growth. The rise in headcounts in the North East contrasted with falling staffing numbers at a national level, the survey reported.