Economic forecast – Manchester outperforms the rest of the UK

by David Fort on 18 January 2012

I was recently at the Chamber City breakfast with other advisors and business owners. The discussion topic was the Manchester Chamber of Commerce survey and an update on the economy. I did feel that I may have been in for a session of further doom and gloom for North West business owners, but was pleasantly surprised!

Yes, the overall view was that the National forecasts had been a bit bullish, causing companies to reduce their projections for growth over the next 12 months and giving the impression of doom and gloom. And, although Manchester Chamber recognise that the economy is still struggling, there is still a bit of good news! The local economy is actually doing better than Manchester Chamber of Commerce had previously predicted with a rise of 1.5% compared to their previous forecast of 1%.

What I found really encouraging is that Manchester has outperformed the rest of the North West and the UK according to a survey of over 800 companies. Despite this, more money is being spent on transport in the south at £1,000 per head compared to £250 in the North West. Do the Government not recognise that economic recovery is going to be helped by businesses all over the UK and not just in the South and therefore investment should be equally spread to help businesses in areas such as the North West to lead the way?

I know that many of my clients in Manchester are still doing well, despite the economy still floundering. There a few that are finding conditions difficult. But they all think the same thing – that the Government should do more to support them – when they are the lifeblood of the UK economy and are the people who will help this country back on it’s feet. Forget London, lets get more of the help up here in the North, then we’ll see the economy really begin to shift with northern grit and determination!

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