Member Article

Manchester Monitor:  Encouraging start to 2014 for Greater Manchester

The latest Manchester Monitor – a monthly analytical snapshot of Greater Manchester’s economic wellbeing – holds the conurbation in good stead, on the strength of recent positive data from Manchester’s visitor economy, services and manufacturing sectors.

With focus on annual hotel occupancy at its highest level (76%) since 2006 – and highest on record when taking into account the 58% increase in Greater Manchester’s hotel capacity (2006-2013) - the broad consensus is that such positive trends will continue to emerge throughout 2014.

The latest data available for Greater Manchester also reveals:

• Jobseekers numbers fall again, with 2,100 fewer people (3.3%) claiming Jobseekers Allowance (JSA) in Greater Manchester in December 2013 than the previous month.
• Greater Manchester services and manufacturing companies indicated broad positivity when surveyed for the GM Chamber of Commerce Quarterly Economic Survey, as sales and orders increased across the UK.
• Greater Manchester’s housing market shows slight growth, with a year-on-year increase in the average house price of 1.2% (£1,255) from this time last year, to £104,507.

Including further data on hotel occupancy, airport passenger numbers, crime volumes and more, the February 2014 edition of the Manchester Monitor is produced by New Economy and is available to view here.

Dr Alexander Roy, head of research at New Economy, said: “With the reported growth in UK GDP figures over 2013 set against positive data that is emerging from some of Greater Manchester’s key industry sectors, our expectations are that economic growth will continue to be slow-paced but steady over the coming months.

“However, it’s important to remember that that we can’t rely on positive figures alone; our recent reports on skills in Greater Manchester for example, have identified a need to better align the conurbation’s learning provisions. Understanding and addressing wider issues across the economy will prove vital if growth is to continue.

“Greater Manchester certainly has the infrastructure in place, and with future schemes like the enterprise zone, this is only set to develop further. It is now a question of bringing all of our provisions together, in the most effective and complementary matter.”

This was posted in Bdaily's Members' News section by Simon Malia .