News Article

WMiC, Issue 15 - West Midlands LEPs feature towards the top and bottom of the economic output growth league

Posted on 2 March 2017 (Permalink)

The Office of National Statistics (ONS) has just published its latest economic figures for England’s Local Enterprise Partnerships (LEPs). These show that the output for the Greater Birmingham and Solihull LEP area grew at 4.7%, the third fastest rate in the country in 2015. The ONS comment that construction, and finance and insurance activities “were the engines of growth” for the LEP. Oxfordshire topped the list with growth of 5.3%.

At the other end of the scale, three of the West Midlands’ LEPs were among the five slowest growing areas - with the Marches posting growth of 1.1%, Coventry and Warwickshire 0.4% and Stoke-on-Trent and Staffordshire 0.3%. Northamptonshire was bottom of the pile, failing to register any growth at all.

The ONS point out however, that things can change significantly when looked at over longer time frames. Looking at the period of 2008 - 2015, with an average annual growth of 3.4% it was the Coventry and Warwickshire LEP that was the best performing in the West Midlands and the third best overall. Stoke-on-Trent and Staffordshire was the only LEP from the West Midlands to feature in the bottom five over this longer period.

 

Source -

Office of National Statistics - Gross Value Added for Local Enterprise Partnerships, 28th February 2017 

 

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