North Staffordshire is Growing!
It was reported in the local media last week that the latest UK Powerhouse survey, produced by the Centre for Economic and Business Research (CEBR) predicts that the value of goods and services produced in Stoke-on-Trent will grow by 0.6 percent over the next 12 months – despite challenges including Brexit, rising inflation and falling investment by businesses. The article claimed the city’s economy is on course to be £39 million larger by the end of 2017, according to a new study by law firm Irwin Mitchell.
Jack Coy, an economist at CEBR, added: “The delayed effects of Brexit have been in the pipeline for a while and there will be some difficult economic pressures in 2017. These are likely to be felt throughout cities across the UK, and threaten to slow growth in the short and medium term.”
But Stoke-on-Trent’s economy is set to grow, this is on the back of 2.1% growth during the previous 12 months, which was higher than the UK average of 2% for 2016. Contributing towards this growth are almost 1000 new businesses, which have been started over the last 5 years across North Staffordshire, which is above the national average.