Partner Article

North East ‘disappointed’ by return to recession

The North East Chamber of Commerce (NECC) have expressed disappointment that the UK economy has returned to recession.

Chief executive of the NECC James Ramsbotham believes that while the recession cannot be ignored, regional business confidence should not be undermined by the latest figures.

He commented: “NECC members don’t reflect the gloomy national picture, particularly in the manufacturing and engineering sectors, which have contracted according to the Government estimate, but emphatically not according to our own members.

“The word ‘recession’ carries a big psychological impact and while being realistic about the difficulties we still face we must focus on the positives and all play our part in continuing to bolster confidence.

The North East has witnessed a stream of good news recently, including investments at Nissan and Calsonic Kansei, the arrival of SNOP and the re-birth of steelmaking on Teesside.

Recent Government figures indicated that the region had witnessed better than average growth in employment.

The Regional Secretary of the Northern TUC Kevin Rowan described the figures as “devastating” but “not a surprise”.

He said: “Ministers now need to review all their decisions over the last two years and reflect on how they have contributed to a loss in confidence, jobs & growth.

“Some of the mistakes made have been breathtaking and have threatened our country’s long term future in key industries.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .