A ROSY outlook for York businesses has been predicted by a senior economist.
The outlook for York businesses is the best it has been for five years, according to Lucy O'Carroll, a senior economist with the Royal Bank of Scotland Group.
She made her prediction when she visited the Minster Hotel in York to update customers on the outlook for the UK economy and its impact on local businesses.
She said: "Businesses in York are continuing to expand, undertaking additional projects and regularly sharing in the improved economic picture.
"We are optimistic about the prospects for local businesses, but aware that some risks still remain."
Lucy said March's Purchasing Managers Index (PMI) report revealed that businesses in Yorkshire as a whole were continuing to perform strongly, increase business output and hire additional staff.
"The economic signs are very positive and we are seeing the best outlook for four or five years," she said.
According to the report, rising levels of activity in the region's manufacturing and service industries were closely linked to a strong growth of incoming new work. Yorkshire has experienced an eleventh successive monthly rise in volumes of new work placed with companies in the area.
Updated: 10:00 Thursday, May 06, 2004
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