Welcome to Coventry & Warwickshire Chamber of Commerce
A recent British Chambers of Commerce survey suggested firms in Coventry and Warwickshire will see slow growth over the next two years but their prospects will improve in the medium term.
It has revised its growth forecast for 2013 from 1.0 per cent to 0.6 per cent and down to 1.7 per cent for 2014 from 1.8 per cent.
The BCC’s economic forecast does, however, predict growth of 2.2 per cent by 2015 and, like us, they have called upon Chancellor George Osborne to do all he can to improve prospects for growth in his Budget next week.
The BCC forecast expects business investment to strengthen over the course of the next three years but says the rebalancing of the economy towards exporting is not happening quickly enough.
This is partly down to trade around the globe falling in general but we are still seeing firms in this region take advantage of support via the UKTI (UK Trade & Investment) team here at the Chamber to start developing overseas markets.
Manufacturing, says the report, remains strong but is expected to fall by 0.5 per cent in 2013 only to grow by 1.0 per cent in 2014 and then 1.2 per cent in 2015.
In this region, we have recently announced a partnership with MAS, EEF and UKTI to further strengthen our manufacturing and engineering group as we see this as a key sector for our economy.
Following the year's budget please click here for a summary report from Dafferns LLP.
For more information on those and all of the services your Chamber can provide, please pick up the phone and call 024 7665 4321.
Louise Bennett OBE
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