Optimism about local business prospects outweighs pessimism, according to three recent economic surveys.

The latest findings by Lloyds TSB bank revealed that a moderate rise in new private sector orders in January – the third consecutive monthly increase – had maintained its business activity index above the ‘no change’ level of 50, with a new rating of 53.1 And findings by Bibby Financial Services, which has a Bradford office, show that more than a third of firms in Yorkshire are looking to take on staff and invest in new equipment this year as business levels continue to hold up.

A less confident picture comes from business insurance specialist QBE, which says only 14 per cent of businesses in Yorkshire and the North-east expect to see a full economic recovery in less than two years.

Lloyds TSB said incoming new work rose moderately in January to a five-month high and employment levels at regional private sector companies also rose again during January, with around one-in-nine firms hiring extra staff last month.

The index showed that new job creation was above the UK average and the fastest since February 2012.

Martyn Kendrick, Lloyds TSB Commercial Banking area director, said: “Businesses across Yorkshire & Humber started 2013 on good form, with the fastest increase in private sector output for five months – this was also the greatest of all nine English regions.

“This encouraged firms to take on more staff, and employment rose at the fastest rate since February 2012. However, the data showed that the overall expansion was largely reliant on the service sector, as manufacturers reported only a modest rise in output and kept staffing levels broadly unchanged from December.”

Bibby said more than a third of Yorkshire firms were planning to invest in new equipment this year as business levels continue to hold up.

In spite of fears that the economy would suffer a triple-dip recession this year, 36 per cent of regional firms said trade levels in the fourth quarter of 2012 were the same as the previous quarter with nearly 40 per cent of businesses hopeful about prospects for 2013.

Mark Storey, Bibby Financial Services regional spokesman, said: “Our research suggests the new year is bringing new levels of optimism to businesses in Yorkshire and Humberside, which will help to drive the regional economy back towards recovery. But access to finance remains a key concern for many business owners who tell us the traditional forms of funding are not delivering.”

But QBE said zero or slow growth were becoming accepted as the ‘new normal’, with 64 per cent of businesses expecting no change in turnover in the next six months and only 28 per cent expecting turnover to increase during 2013.