Overcast

Overcast

max temp: 14°C

min temp: 11°C

Search

The pigs are coming. Find out more about

Pigs Gone Wild

here.

East Anglia: Region’s output growing fast but still below pre-crisis peak, says RBS Regional Growth Tracker

06:00 20 August 2014

Royal Bank of Scotland has published its Regional Growth Tracker report for the second quarter of 2014.

Royal Bank of Scotland has published its Regional Growth Tracker report for the second quarter of 2014.

The East of England was the fourth fastest growing region in England during the second quarter of 2014, according to analysis by Royal Bank of Scotland.

But the region has yet to regain the level of output achieved before the financial crisis, the latest RBS Regional Growth Tracker report says.

The study shows that the recovery is broadly based, with all nine English regions achieving growth for the sixth quarter in a row, London leading the way followed by the East Midlands and the South East.

However, while these three regions have all now passed their pre-crisis peak, as has the South West, the East of England has yet to regain this milestone, although RBS suggests it is likely to do so during the second half of the year.

RBS economist Stephen Blackman said: “Our Regional Growth Tracker estimates the East of England’s economy expanded by 0.8% in Q2. That makes the East the fourth fastest growing English region.

“Although professional services provided the largest contribution, the region’s owes a thank you to its 13,000 wholesalers, 25,000 retailers and 10,000 firms involved in logistics and distribution. These sectors are more important to the East’s economy than they are typically for the UK and have also grown faster than the UK economy on average.

“The real highlight is that many of England’s fastest growing local area economies are in the East. Hertfordshire tops the table, with its economy the fastest growing English local area, expanding by almost 4% annually.”

Close behind Hertfordshire’s growth of 3.9% were Central Bedfordshire on 3.8% and Thurrock and Luton, both on 3.7%. Essex and Cambridgeshire both saw growth of 3.5%, with Bedford on 3.4%, Suffolk on 3.3% and Southend and Peterborough, both on 3.2%. Bringing up the rear was Norfolk, on 3.1%.

Andrew Harrison, RBS regional managing director for commercial and corporate banking, said: “The East of England is emerging from the economic downturn well positioned to benefit from the increasing pace of growth in the UK. The region’s broad based economy and proximity to London has insulated the East of England from the worst of the economic conditions.

“The concentration of world leading technology businesses in and around Cambridge rightly receives positive profile. It should not be forgotten that more traditional sectors such as agriculture and manufacturing are also making a significant contribution to wealth creation in the region.”

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Ipswich Star visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Ipswich Star staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Ipswich Star account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

File picture of Suffolk Fire and Rescue Service at work.

Firefighters were called to the semi-detached property shortly after midnight.

Work is underway on The Buttermarket in Ipswich.

Jack Wills is preparing to open in the former Croydons store, work on the Primark extension is nearing completion and the transformation of the Buttermarket Shopping Centre is now in its final stage.

Ipswich Crown Court.

An Ipswich man with “an entrenched and disturbing interest” in sexually abusing females has been jailed for 12 years.

Services could move from Colchester General Hospital to Ipswich Hospital, or vice versa.

Services at Colchester and Ipswich hospitals could merge where there is “a clinical case to do so” – but neither hospital will close.

Car has collided with a tree on Bury Road, Newmarket.

The father of Suffolk County Council leader Colin Noble has died following a road crash.

Suffolk People First conference in Kesgrave

Giving people with learning disabilities a chance to speak up and be heard is the key goal of Suffolk People First, a meeting organised by Stowmarket-based Advocacy organisation Ace Anglia.

The EACH Colour Dash in Christchurch Park in Ipswich in 2015

Christchurch Park is set to get colourful this Sunday, with thousands of people descending on Ipswich town centre for East Anglia’s Children’s Hospice’s (EACH) Colour Dash.

The sign that has been put up in Through Jollys in Kesgrave, after a cat was killed from traffic

A Kesgrave cat owner whose pet was killed on one of the town’s busiest roads, after being hit by a car, has urged motorists to keep to the speed limit.

File photo dated 15-06-1996 of Paul Gascoigne celebrating his goal with Teddy Sheringham in the Euro 96 clash against Scotland, at Wembley. Photo: Neil Munns/PA Wire.

It may have ultimately ended in defeat to old rivals Germany but Euro ‘96 was far from being England’s worst footballing campaign.

Question Time was last in Ipswich in 2013.

Former Labour Party leader Ed Miliband – a leading campaigner in the campaign to stay in the EU – is among the guests expected at Ipswich Corn Exchange when Question Time comes to town tonight.

Most read

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24