S&P Global: UK regional growth slows in Oct. ’24

UK business activity experienced a slight slowdown in October, as reported by the latest NatWest Growth Tracker, with just over half of the 12 UK nations and regions seeing growth—a decline from the 11 regions that experienced growth in September.

Northern Ireland continued to lead the way, with a strong performance and the highest growth index at 55.8. Other regions experiencing solid growth included the North East (54.8), South West (54.1), and London (54.0).

However, a downturn was observed in Wales, which recorded the steepest decline in activity in 12 months, with an index of 47.0. Yorkshire & Humber (49.5), the South East (49.8), and the North West (49.8) also experienced contractions.

The Business Activity Index tracks the monthly change in output across the private sector. A reading above 50 indicates growth, with higher numbers signalling faster expansion.

Attribution: S&P Global report

Subediting: M. S. Salama