On a national level, UK inflation remained at a record low, revised Office of National Statistics figures showed that the UK economy grew at a faster rate than estimated last year, however UK labour productivity fell by 0.2%.
Locally, the commercial property market is strengthening and availability for office space in Norwich has now fallen below the 10% mark. Prime rents in the city are now at £16.50 per sq.ft. and prime industrial rents at £5.75 per sq.ft.
Norwich International Airport have proposed new flight routes from Norwich to Charles De Gaulles, Dublin, Exeter and Newcastle. The airport will face stiff competition from other regional flight hubs also looking to secure Regional Air Connectivity Funding. The airport also announced a new charter flight route to Paphos in Cyprus for 2016.
Group Lotus car sales have entered the growth fast lane as it recorded its best performance in 7 years. Lotus saw a 55% surge in sales to the end of 2014/15 financial year.
Natwest announced further investment in Norwich by confirming that they will take on the old HMV store to complement their existing branches in St Stephens Street and London Road.
