Norwich Economic Barometer – October 2018

  • Norwich City Council have released their latest economic barometer

 

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

Locally

  • Business activity in the East of England picked up to a 6 month high in August due to a strong order book
  • UEA has been ranked a top 15 university in The Times and Sunday Times Good University Guide 2019 for 3rd year running
  • Lotus has unveiled plans for a new multi-million pound expansion which aims to transform its Hethel site into a global destination for fans
  • During August the average house price grew by 1.2% in Norwich and by 0.2% in England compared to July

Nationally

  • UK Gross Domestic Product (GDP) grew by 0.7 per cent in the 3 months to August 2018 with all 3 main sectors contributing positively
  • UK productivity grew in the second quarter this year, though is behind rates achieved before the global financial crisis in 2008
  • The UK can expect low economic growth for the next 3 years
  • Estimated average weekly earnings in real terms increased by 0.7% compared with a year earlier

For full details of the latest economic barometer click here.

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