Suffolk: Chamber calls for action on growth
LOCAL businesses will be anxiously awaiting the latest round of economic data this week, says Suffolk Chamber, following a survey showing the county’s firms coming under increasing pressure.
Inflation figures due out today could show the increase in prices at a three-year high, with retail sales figures for September due to follow on Thursday.
The updates come after Suffolk Chamber’s survey of members for the third quarter of the year indicated that the county’s economy has suffered more than the UK as a whole during the last three months. Manufacturing performance continued to slip back and there was evidence of the service sector following suit.
“It was always our belief that this would be a very difficult year for our members and Suffolk’s economy overall, but the truth is that it has been tougher than expected,” said Peter Funnell, president of Suffolk Chamber and director of Oakmere Solutions.
“Manufacturers are continuing to struggle and now we are seeing indications that the service sector is faltering after a relatively strong first half of 2011.”
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The chamber’s call on the Government for new measures to boost the economy is echoed by many of its members across the county.
Tony Addison, managing director internet marketing agency Free Rein, based in Hadleigh, said: “While we welcome the government’s measures for stimulating business growth such as more quantitative easing, industry needs the effects to have an impact promptly.” Freelance photographer Warren Page added: “There are hundreds of thousands of self-employed ‘one man bands’ out there who look for policy decisions made by government to make a real difference tomorrow not in six months’ time.”
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