Thursday, 15 December 2011

Latest economic survey for Manchester suggests we are holding on

Greater Manchester region is performing well against the backdrop of gloomy domestic and Eurozone outlooks according to the latest report from the City's Chamber of Commerce.

The survey in which a total of 827 businesses from across Greater Manchester this quarter, found that though there has been a slight easing of demand, this has not dramatically fallen away since the Q3 survey and, as a consequence, confidence has eased but remains positive.

Understandably, says the Chamber, given the uncertainty, investment has also eased, but again it remains positive and it is investment in people that is strongest.

With the capacity to deliver growth, they add, the region is both well placed and showing the resilience to respond to the current economic challenges.

In manufacturing,the sector measures saw continued growth in the domestic market at the same level as the previous quarter,though there has been an easing of export demand.

The sector continues to see growth, albeit easing slightly over recent months.

Construction firms have had better quarter with domestic demand starting to grow again after a flat previous quarter.

In the services sector,demand is now flat after falling across the previous quarter.

The chamber welcomes the actions of the chancellor in last month's fiscal statement.particularly that more has been done to support exporters to access
emerging markets

It also welcomed that the statement had put in place the plans for infrastructure investment which it says will be a key element of driving demand in the region’s economy and establishing the longer term attractiveness of the region
for inward investment.

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