Proof, if it was needed, that our region is not immune to global economic issues is reflected in the latest economic survey: businesses have returned a mixed view.
The region’s service sector continues to perform well domestically and internal markets remain strong. In contrast, slowing global trade, continuing troubles in the Eurozone and China structural reforms are clearly impacting our regional manufacturing base as the pace of growth slowed dramatically in Q2. With the distraction of a general election now out of the way and the country returning a government with a mandate to make bold decisions we would encourage the Chancellor to follow through on his ambitions to make the Northern Powerhouse a reality.
Investment in infrastructure is a fundamental building block to this goal and, with strategic procurement, could support many Yorkshire companies’ balance sheets.
A copy of the full report will be available on July 8th.