Norwich City Council has now released its Economic Barometer for the final quarter of 2013. Findings show that the period November 2013 to January 2014 highlighted some very promising signs for the New Year and beyond. The end of 2013 saw a surge in consumer spending, which was to be expected over the Christmas period, with John Lewis reporting a 10% upsurge in online sales.
December saw a fall of £2.1 billion in UK government borrowing. It now stands at £12.1 billion. With the signing of the Greater Norwich City Deal, by Deputy Prime Minister Nick Clegg, it is hoped that the city Deal will create 13,000 jobs and 3,000 homes in the area and sustain 6,000 construction jobs. Overall unemployment figures continue to fall for this region.
With the increased popularity of the summer flights schedule, Norwich International Airport achieved a year on year increase in passenger numbers of 11% and Loganair have announced that they will commence new services from Norwich to Edinburgh from the end of March 2014.
The £7.8 million expansion of Hethell Engineering Centre will be up and running from the start of March 2014 and is set to create 240 new jobs and will double the size of the current site by adding 16 new offices and workshop spaces.
The full Norwich Economic Barometer can be viewed here.
