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InstantAtlas™ Server 6

New economy profile

26 August 2015

What is it? A new district-level profile of the local economy has been produced to summarise the main trends in business demography, local industry specialisation and economic performance and confidence.

Example statistic: The economic output from Wakefield's service industries has risen to 75.5% of GVA, compared to 64.3% in 1997. At the same time, the contribution of production industries (which includes manufacturing) has decreased as a proportion. A similar change has occurred across the UK economy as a whole. The Mid Yorkshire Chamber of Commerce Quarterly Economic Survey shows 54% more companies than not (the balance) expect turnover to increase, and 38% more companies than not expect profitability to increase. This trend marks a recovery from the collapse in confidence towards the end of 2014.

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