New research has shown Yorkshire manufacturing showing stronger recovery signs than any other region in England and Wales.
Data compiled throughout April by insolvency organisation R3 shows 20% of the county’s manufacturing companies are at risk of insolvency, the smallest number of any of the listed regions.
Despite all regions seeing a minor increase in the rate of high risk businesses in the sector since the previous month in the report, research shows Yorkshire has remained steady throughout the last six months.
337 manufacturing firms identified as being at high risk last month out of 10,693 active companies compiled from Bureau van Dijk’s ‘Fame’ database of company information.
Yorkshire was followed by the North East region, which performed strongly with 21%, while the poorest performers were London (30%) and the South East (25%).
William Ballmann, chairman of R3 in Yorkshire and partner at national law firm Gateley LLP, said: “The manufacturing sector is continuing to perform well, with the sector among the star performers in the latest GDP statistics.
“In Yorkshire, 2014 has seen production and new orders increasing and the feeling is that the region is performing slightly more strongly than the rest of the UK although the sector is still a long way from its peak before the recession.”
The research also compiled statistics from the technology, IT, construction and property sectors.