Economic growth in Norfolk ‘remains slow’

Posted 04/07/2012

Economic growth in Norfolk remains slow, according to the latest data from the British Chambers of Commerce (BCC).It showed that while some businesses are able to expand, the rate at which they can do so is sluggish at the present time.Caroline Williams, chief executive officer of Norfolk Chamber of Commerce, urged local companies to take advantage of export opportunities, reports the Eastern Daily Press.”Although the challenging Norfolk results are not a great surprise it is disappointing that our businesses are finding it so tough,” she said, adding the body has invited 14 countries to attend its free Global Marketplace event in September to boost exports.It was also noted by Ms Williams that confidence among Norfolk business owners remains as low as it was at the start of the recession in 2007.Chief economist at the BCC David Kern has called for the Bank of England’s Monetary Policy Committee not to add to its quantitative easing scheme when it meets tomorrow (July 5th).Posted by Hywel Griffiths