Business Growth in the Northwest

Economic productivity in the Northwest is likely to outperform the UK as a whole during the coming recession, according to draft research by analyst Experian.

The draft research, revealed at the Developers’ and Investors’ Forum at the Northern Regeneration Exhibition, predicts that GVA in the Northwest will out perform the UK average between 2008 and 2010.

In relation to house prices however, above average falls are predicted for the Northwest. Comparing the North to the UK average, between 2008 and 2010, household consumption is due to rise by slightly less, but the percentage of jobs lost and the percentage fall in house prices will be about the same. GVA is estimated to rise slightly more in the North over the next two years.

Experian draft forecasts also predict that returns on industrial and office schemes in many towns in the North East and Northwest will be higher than the national average, with Manchester, Trafford, Chester and Liverpool set for above average returns on office developments. 

(Article source: Regeneration and Renewal Magazine)

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