West Midlands economy suffers further falls

The latest West Midlands Chamber of Commerce Quarterly Survey released today makes grim reading as it reports further declines in economic output and a worsening of prospects for the next quarter.

Manufacturing firms in the West Midlands reported significant falls in domestic orders and further worsening of exports. This is impacting on investment and confidence, with fewer firms reporting plans for capital investment as expectations of profitability and turnover decline.

In services the picture is mixed, with domestic orders falling but strong growth in exports. Employment growth, while positive, has slowed on the previous quarter and cashflow has deteriorated. In the light of the continuing uncertainty the survey reports business confidence levels falling.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: