EEDA - East of England Development Agency

Business confidence in region improving

21 August 2009

Business confidence and expectations are better than they have ever been at any time since the recession began, according to the latest report from the region’s economic intelligence centre Insight East.

The new evidence comes from Insight East’s second Quarterly Economic Brief, covering Q2 - April to June 2009.  A summary of the report is available on the Insight East website www.insighteast.org.uk. Insight East was launched by the East of England Development Agency (EEDA) in March this year as an independent economic research and analysis unit for the region’s leaders.

Glenn Athey, director of Insight East said:

"Business confidence is improving and is at its highest since the recession began. There is no doubt that the regional economy remains in a ‘fragile state’ with slowing industrial output and the number of people out of work at a 12-year high.

“However, there is some evidence that the rate of job losses is slowing and that house prices are recovering faster in the East of England than in other regions across England.

“Our findings support those of other economists in the region and will add to the growing feeling of optimism that the worst may well be behind us.”

If policymakers are to deliver effective, evidence-based policy to improve the economy of the region, they need the evidence to back it up in an accurate, timely and accessible format and this is the role of Insight East. This analysis and other reports from Insight East will help decision makers better understand the economy.

 

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