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Norwich Economic Barometer – March 2017

Written by Paul Vincent on .

The Norwich Economic Barometer has now been published for March

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

Locally

  • Norwich based Topic Biosciences have secured a £60,000 Eastern Agri-Tech Growth Initiative grant to develop new varieties of coffee plant at Norwich Research Park
  • According to a ManpowerGroup survey, employers in the East of England are ‘most likely to hire’ for the second quarter running
  • Business activity at firms in the East of England grew at a slower rate, although firms are still more optimistic about their growth prospects in the coming year
  • Average house price in Norwich grew by 0.4%.  the average house price in Norwich currently stands at £192,080

Nationally

  • UK construction sector growth slowed in March, led by a weaker rise in residential building activity
  • The UK manufacturing sector had a solid finish to the first quarter.  The boost to export competitiveness from the weak sterling exchange rate contributed to this
  • Britain’s retailers saw falling sales in March, according the BRC, takings were down by 1%
  • According to the ONS, average weekly earnings for employees rose by 2.3%, including bonuses, when compared with a year earlier

For full details of the latest economic barometer click here.