Norwich City Council have released their latest economic barometer. The report highlighted: Locally
- Lotus, based at Hethel outside Norwich, has unveiled its best annual global retail sales performance since 2011.
- Ashtons Legal, one of the region’s largest law firms, is to acquire Norfolk-based Steeles Law in a merger which will increase its team to 400 people. The combination will add Steeles’ office in Diss, to Ashtons’ existing offices in Norwich, Bury St Edmunds, Cambridge, Ipswich and Leeds.
- Business sentiment improved in December and employment levels rose at a faster pace as private firms in the East of England stayed confident about higher activity levels in 2022.
- Manufacturing exports from the region could rise significantly over the next decade if plans by firms to sell more goods overseas materialise according to a new study – The Export Dividend – from Barclays Corporate Banking.
Nationally
- The UK economy grew more slowly than previously thought in the third quarter, suggesting a shaky recovery even before the outbreak of the Omicron variant.
- December PMI data pointed to another solid increase in business activity across the UK construction sector, but the rate of expansion slipped to its lowest since September.
- UK households have suffered the sharpest fall in the amount of cash they have available to spend for almost eight years, amid a worsening cost of living crisis driven by high 5 inflation and rising energy bills.
- The number of insolvent businesses in England and Wales rose by 18.7 per cent last month to 1,674, up from 1,410 in October and an increase of 88 per cent on November last year
For full details of the latest economic barometer see below. norwicheconomicbarometer_3.pdf
