Green shoots start to sprout in the region

James Ramsbotham
James Ramsbotham

The region’s largest business membership organisation has welcomed preliminary GDP estimates for the UK in the second quarter of 2013 indicating the economy grew by 0.6 per cent.

This includes growth in the service sector of 0.6 per cent, in the production industries of 0.6 per cent and in the construction sector of 0.9 per cent.

North East Chamber of Commerce chief executive James Rambotham said: “It is encouraging to see growth accelerating and today’s estimates will provide a welcome boost to business optimism across the UK.

“Today’s GDP estimates very much mirror the findings of NECC’s quarterly economic survey for the same period, which demonstrates that businesses are inviesting more, recruiting more and have more sales and orders than at any time since the beginning of the recession.

“The North East has seen slow but steady growth across the private sector for the past 12 months.

“This is not yet the level of growth we would hope for and there remain major issues to be addressed, such as skills, but it reflects our view that business performance in the North East is now at its strongest level since 2008.”