Norwich Economic Barometer – September 2021

Norwich City Council have released their latest economic barometer. The report highlighted:

Locally

  • Hotels across Norfolk saw a boom in bookings, as more people swapped winter sun for breaks closer to home.
  • Birketts recently recruited 19 trainee solicitors in Norwich, Ipswich, Cambridge and London.  Whilst Howes Percival is launching a recruitment drive to create over 30 new jobs.
  • More than one third of East Anglia businesses will have to temporarily reduce products or services to manage staff shortages as stock and supply chain problems put pressure on firms.
  • The ‘worlds oldest toy store’ Hamley’s have opened a store on the ground floor of Chantry Place.
  • Amazon has invested more the £5.2 billion in the East of England since 2010 according to data.  They have created more than 9,000 full and part time jobs

Nationally

  • September data indicted another strong month for the UK service sector but severe supply constraints contributed to escalating inflationary pressures
  • Supply chain delays resulted in slower new order growth and rising material and labour shortages all constrained UK manufacturing
  • Average house price grew by 7% across England (6.8% in East of England)

For full details of the latest economic barometer click here.

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