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Businesses see confidence and cashflow returning
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Businesses see confidence and cashflow returning
17 May 2010
The latest quarterly economic report published today by the East of England Development Agency (EEDA) shows that although conditions are still tough for businesses there are signs that access to capital is improving.
The East of England Quarterly Economic Brief Quarter 1 2010 shows there is more confidence in the manufacturing sector and firms across the region are experiencing an improvement in their cashflow.
Drawing on information from the Office of National Statistics (ONS), the Treasury, the Bank of England, the major business surveys and other sources the report from the economic experts at EEDA’s Insight East team covers January to March 2010.
Glenn Athey, director of Insight East said:
“The latest economic intelligence quarterly report from Insight East shows that it is manufacturers that feel most confident in the East of England. The good news is that although businesses need to keep prices low while the cost of materials is increasing, access to capital has eased and late payment problems are becoming less of an issue.
“The East of England has seen lower levels of unemployment compared to the rest of the UK over the recession and the numbers claiming unemployment benefits have actually fallen slightly between January and March this year. We are likely to see an increase in the number of people out of work as the year goes on however. Looking beyond the figures, it is important to remember that more people are having to work part-time or do temporary work rather than being in full-time permanent employment.
“There is evidence that the East of England has more skills shortages, but fewer skills gaps, than the UK as a whole and spending on training is beginning to pick up but not a great deal yet.
“The report also shows that investment in Research and Development is being maintained which is important for future growth and recovery of the region’s economy. “
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