SMEs in the East of England are ‘healthier’ than the national average
PUBLISHED: 05:00 12 September 2018 | UPDATED: 07:54 12 September 2018
Archant Norfolk 2018
Firms in the East of England have seen a significant improvement in a health check for small and medium-sized businesses.
The latest figures from the Clydesdale and Yorkshire Banking Group (CYBG) SME Health Check gave the region an 11 point rise to 50 in the second quarter of 2018 – above the UK average, which hit the second lowest level in three years at 47.1.
The improvement was likely driven by a rebound in economic activity after adverse weather early in the year caused a slowdown, CYBG said. It added that the East of England would have been “particularly exposed” to the effects of the slowdown due to its large construction sector, which saw a “marked acceleration in output” as work delayed by the Beast from the East picked up in the second quarter.
The SME health check index is published in partnership with the Centre for Economics and Business Research (Cebr) and measures indicators such as business confidence, costs, employment and revenue.