Partner Article

Exports flourish against tough trading backdrop

NORTH East exporters flew the flag for the region’s economy amid worrying reports that trading conditions are becoming increasingly tough for businesses, according to new data.

The North East Chamber of Commerce (NECC) today publishes its quarterly economic report, the North East Business Barometer, which showed most economic indicators dropping into the red.

The business barometer, sponsored by Barclays, graphically illustrated the importance of global trading conditions on the future health of the North East economy.

Both export sales and orders were up (by +9.8% and +11.1% respectively) over the last quarter with both indicators firmly in growth.

But the picture was far less positive for UK sales and orders which fell sharply. Furthermore, the number of companies planning to invest in plant and training shrank while companies indicated they were scaling back recruitment plans.

James Ramsbotham, NECC chief executive, said: “There is nervousness among businesses – particularly the service sector – about the current economic climate and how the Government’s planned spending review next month will impact on orders in the future. It is very apparent that there will be considerable spending cuts in areas of the public sector that will have a sharp impact on areas of our economy.

This was posted in Bdaily's Members' News section by Ruth Mitchell .