THE latest North West economic activity survey by the Royal Bank of Scotland (RBS) shows that at the end of 2008 there were marked reductions in output, new business and employment.
Companies continued to report fragile client confidence.
The seasonally adjusted Business Activity Index fell from 37.8 to 35.6 in December, to signal the fastest decline in activity in the 12-year survey history. The rate of contraction was also faster than the UK.
Philip McKinnon of RBS said: “The North West economy slipped deeper into recessionary territory in December.”
