NatWest London PMI Business Activity Index rose from 52.4 in September to 53.8 in October, signalling a solid expansion in output that was the fastest since June.
October survey data pointed to a further rise in the volume of incoming new business at London private sector firms, following a renewed uplift in September. Furthermore, the rate of growth quickened and was solid, with companies relating the upturn to acquiring new customers and launching new products.
Despite stronger demand conditions, firms in the capital signalled a drop in confidence towards the year-ahead outlook in October. Though output expectations were strongly positive overall, the respective index fell to its lowest point in 2023 so far.
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