Norwich Economic Barometer – March 2017

  • The Norwich Economic Barometer has now been published for March
    The Norwich Economic Barometer has now been published for March

Norwich City Council have released their latest economic barometer. The report highlighted:

Locally

  • Norwich based Topic Biosciences have secured a £60,000 Eastern Agri-Tech Growth Initiative grant to develop new varieties of coffee plant at Norwich Research Park
  • According to a ManpowerGroup survey, employers in the East of England are ‘most likely to hire’ for the second quarter running
  • Business activity at firms in the East of England grew at a slower rate, although firms are still more optimistic about their growth prospects in the coming year
  • Average house price in Norwich grew by 0.4%.  the average house price in Norwich currently stands at £192,080

Nationally

  • UK construction sector growth slowed in March, led by a weaker rise in residential building activity
  • The UK manufacturing sector had a solid finish to the first quarter.  The boost to export competitiveness from the weak sterling exchange rate contributed to this
  • Britain’s retailers saw falling sales in March, according the BRC, takings were down by 1%
  • According to the ONS, average weekly earnings for employees rose by 2.3%, including bonuses, when compared with a year earlier

 

For full details of the latest economic barometer click here.

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