The February edition of the Norwich Economic Barometer has now been published. The Confederation of British Industry (CBI) has upgraded its forecast for the UK’s economic growth this year and expects the UK Economy to expand by 2.7% in 2015, compared with its November forecast of 2.5%.
The ONS reported that the UK industrial output fell by 0.2% in December, mainly hit by maintenance work in the North sea oil and gas fields.
Salaries for professional and managerial workers are rising in the region with the highest rates being paid in Cambridgeshire and for staff in the energy sector, according to a survey by recruitment firm Cooper Lomaz. The average professional/managerial salary in Norfolk is £33,649.
Norwich’s emerging reputation as a centre for technology businesses has been underscored by a new report championing the UK’s digital economy which ranks it 15th in the UK. Group Lotus has announced plans to create 150 new jobs, with the launch of a new car.
To read the full report, click here.
