Business growth hits four-month high
24 May 2017
The latest regional Purchasing Managers' Index (PMI) report from Lloyds Bank shows that business activity in England grew last month at its fastest rate so far in 2017. The index gave England a score of 57.1 for April, its second highest reading since mid-2015 (50 signifies growth).
Activity in the manufacturing and service sectors in England rose to a four-month high last month, with job creation also picking up speed and growth expected to continue into the summer despite rising cost pressures.
Meanwhile, a separate report shows that 73 per cent of food and drink manufacturers are positive about the future of the industry, with 81 per cent of firms expecting revenue growth of up to 20 per cent in the next year.
At Beavis Morgan, our specialist advisers to the SMEs across a range of sectors are able to assist with business growth and optimisation. Our Research & Development (R&D) tax credits team have also made a significant number of successful claims on behalf of clients in the manufacturing sector.