The headline NatWest London PMI Business Activity Index - a seasonally adjusted index that measures the month-on-month change in the combined output of the region's manufacturing and service sectors - crept up from 58.2 in December to 58.3 in January, the highest for eight months and indicative of a marked expansion in output.
The sharp and sustained rise in sales led to a solid increase in workforce numbers at London-based firms during January. The upturn in staffing was the third seen in a row and the fastest since July 2023. Companies saw a sustained uplift in the level of outstanding work in the first month of 2024.
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