Norwich City Council have released their latest economic barometer. The report highlighted:
Nationally
- Bank of England unanimously vote to leave interest rates on hold
- ONS figures highlighted that the UK trade gap with the rest of the world widened by £1.9bn
- UK economy grew at its slowest rate since mid 2013
- The Markit/REC report highlighted a slight acceleration in growth of permanent staff placements
East of England
- Confidence in the region’s commercial property market remained strong and rents are expected to rise across all sectors
- UEA’s Low Carbon Innovation Fund (LCIF) invested more than £70m during the first round of funding. It has supported 45 SMEs across sectors including renewable energy, automotive, technology and creative industries
- The Association of Business Recovery Professionals R3 warned that delayed invoice payments were impacting on the region’s manufacturers. 27% suffered from late payment in 2015
Norwich
- NUA’s Ideas Factory Incubation Centre for digital creative businesses has now been officially opened. It offers specialist incubation environment which is designed for digital creative businesses.
- Norse Group has been shortlisted for one of the European Business Awards’ top accolades – Ruban d’Honneur status.
- A drug development business, Inspiralis, has expanded from the John Innes Centre to the Innovation Centre
For full details of the latest economic barometer click here.
