Adam and The Ants: AntmusiciTunes

Wessex FM News

Contact the News Team:
Tel: 01305 250333

Dorset Basking In Economic Recovery

news_money_exchange.jpg

8:44am 8th May 2014

Dorset is basking in the sun of the economic recovery, according to the banking giant RBS.

The bank is estimating the county's economy will grow by 3.3% in 2014 - that would be a 0.3% increase on last year.

The data comes from RBS's new regional growth tracker.

Experts say a turnaround in the housing market has been in a major factor in Dorset's economic recovery.

Marcus Wright, economist at RBS says things are looking good for our region;

"Compared to the previous year the South West economy grew 3% - which makes the South West a solid mid-table performer in the UK regional ranking. And just like the UK, the South West is experiencing its fastest rate of growth since 2007."

"The recovery in the UK housing market looks to be helping the South West economy with the real estate sector making a valuable contribution to growth. This is important because real estate accounts for 13% of the region's output, more than the UK figure of 11%."   

"Looking ahead, the South West appears firmly in recovery mode, just like the wider UK economy. With the labour market looking in good shape - unemployment is lowest of all the UK regions at just 4.9% - we'll be looking for evidence of the ongoing economic recovery feeding into improved earnings for workers. This would provide the basis for stronger growth in some of the other sectors important to the region, including retail trade, which would help increase broader economic growth."

Sign up for the latest local news direct to your inbox


Share This Story

Submit this page to redditDelicious

dorset business directory

The Wessex Word

The Wessex Word

See the latest wrong guesses and win cash!

New Car Stickers

New Car Stickers

Grab your new localised stickers today!

The Bun Run

The Bun Run

Request the cakes for your workplace!

Book The Wessex FM Disco

Book The Wessex FM Disco

For your wedding, party or celebration!

Dorset Webcams

Dorset Webcams

Take a look around our beautiful county

Advertising

Advertising

Find out how to grow your business with us

Job at Wessex FM

Job at Wessex FM

We've got a brand new digital sales role