Huddersfield law firm reports promising growth for Yorkshire economy

Huddersfield-based law firm Baxter Caulfield’s latest Yorkshire Economic Index – a quarterly report, which highlights the region’s key business data, has revealed there is renewed investment in the region’s economy.

The report comes just after a declining GDP of 0.3% between January and March in figures released today.

After looking at business data on jobs creation, new investment and contract wins from the three months to the end of March 2015, the report shows a “healthy and sustainable-looking” increase in the economic activity of private sector companies in Yorkshire and the Humber.

The report revealed that 1178 private sector jobs have been created in the region, and an estimated £39.8m of new investment has been made by private sector businesses throughout Yorkshire.

Furthermore, around £20.2m worth of new contract wins have been announced by private sector businesses in the region.

Stephen Newman, senior partner at Baxter Caulfield Solicitors, said: “There is little doubt that business confidence is on the rise in our region with firms starting to make tangible investment in new infrastructure and job creation. While the UK as a whole enters a period characterised by deflationary pressures, there is little to suggest that this will be protracted and that momentum will be lost.

“Our Economic Index is a good and clear indicator that the regional economy is looking promising and is now progressing further along the path to a full and sustained recovery.”

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