New orders weaken but inflationary pressures start to cool

New orders weaken but inflationary pressures start to cool

Business activity fell further in the region in July as new orders fell although cost inflation slowed and private firms in the region are continuing to recruit staff helped by stronger expectations, according to a key survey of purchasing managers. The NatWest East of England PMI business activity index fell in July from 47.9 to 46.8, below the 50 -level which denotes no change. Weak client appetite, market uncertainty and increased delivery times all contributed to the downturn in the region, which contrasted with a modest rise ...

Region set to become centre for huge £100 billion carbon capture and storage sector

East Anglia and Lincolnshire are set to become centres for the UK’s potentially huge CO2 capture and storage industry involving the creation of thousands of new jobs according to a new government-comissioned report. It says the region’s offshore engineering and other supply chain firms are in prime position to benefit from growth in the sector, if the government provides urgent support. The study by Offshore Energies UK says skills developed in regions involved with the oil and gas industries mean they are ideally-placed to become hubs for CO2 capture and storage (CCS).

It follows a...

Optimistic businesses in the East buck national trend on confidence

Business confidence in the East of England jumped 15 points in July to 46 per cent, the highest reading of any UK region and bucking a less optimistic national trend, according to a business barometer from Lloyds Bank Commercial Banking . Firms in the East reported higher confidence in their own business prospects - up 22 points at 59 per cent and also a national high - and to a lesser extent, increased optimism on the economy. The region’s firms identified their growth priorities for the next six months as diversifying into new markets, investing in their teams and evolving their off...

Take-up of industrial space surges along A14 as Freeport East attracts international firms

A surge in the take-up of large industrial units along the eastern stretch of the A14 leading to the Port of Felixstowe is being driven by international firms attracted to the area by the launch of the Freeport East initiative. Take-up of large industrial units (over 100,000 sq ft) in the East of England rose to a record 2.91 million sq ft in the first half - up 223% up on the period last year and more than five times the long-term annual average - according to a Big Shed Briefing report from agent Savills. Key deals across the region in the first half saw retailer The Range take a large ...

Retail group becomes first business to commit to Freeport East

A major retailer, The Range, has become the first business to commit to taking space on the new Freeport East Gateway 14 site, near Stowmarket. The home, garden and leisure products retailer is to occupy a logistics/distribution unit covering nearly 1.2 million sq. ft. Conditional contracts have been exchanged to develop the unit on a freehold turnkey basis with Jaynic, the development partner for Gateway 14, which is owned by Freeport East partner Mid Suffolk District Council. George Kieffer, acting chairman of Freeport East, said: “…Freeport East is focused upon value-added logis...