The North East Business Barometer in partnership with Barclays for Q4 2010 has been published today. It shows an encouraging picture, with balances for domestic sales and orders at their highest level since early 2008, and exports still performing strongly. However, this has yet to feed through into increases in workforce or other investment, and it appears growth still needs to be strengthened and sustained before this confidence returns across the board. There is also a marked discrepancy between manufacturing and services firms, with the former much more positive. Full results can be seen here.
These balances reflect official statistics showing the private sector performing well overall and creating growth. However, this is not yet strong enough to offset public sector job cuts, and means there should be no let-up in working for the best possible environment to do business in the North East.
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