Norwich City Council have released their latest economic barometer. The report highlighted:
Locally
- The latest figures from StartUp Britain showed that in Norwich 521 new firms were created in the first 5 months of the year. This compares to 1,149 for the whole of 2015.
- Chamber member, Howes Percival moved into their new £3m home in the Cathedral Quarter in Norwich
- Norwich-based Lintott Controls Systems is returning to profit under new leadership and with ambitious growth plans
- BHS will close down, with the likely loss of 11,000 jobs. The group has stores in both Norwich and Great Yarmouth. Expressions of interest have already been made by other retailers keen to move into the Norwich store
Nationally
- UK’s trade deficit narrowed sharply in April after a record monthly jump in exports
- UK business confidence feel to a 3 month low in May. A second month consecutive fall
- The UK construction sector experienced another difficult month in May, with output growth easing to its weakest in 3 years
- ONS figures show that UK manufacturing output grew at the fastest pace for nearly 4 years in April
- Retail sales volumes rose by 0.9% – must stronger than expected
For full details of the latest economic barometer click here.
