| West of England Quarterly Reports & Survey | 02 May 2013 |  | Through the West of England LEP website you'll now find the Executive Summary to the West of England LEP Quarterly Economic Bulletin and the Barriers to Growth Survey Report. These documents are available to download from the LEP website at http://www.westofenglandlep.co.uk/about-us/economic-intelligence/reports-and-surveys |
| Business West's Quarterly Economic Survey | 24 April 2013 |  | Access the latest Quarterly Economic Survey results for the South West, compiled by Business West. The Business West quarterly survey provides a regular assessment on the economic situation of local business and is a valuable source of intelligence for businesses, politicians and policy makers. On a national level, results from the survey feed into the British Chambers quarterly survey, recognised as the largest and most representative independent business survey.
There were 537 responses to this quarter's survey - an increase of over 200 from the last survey.
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| PMI Report highlights decline in business activity for second successive month | 15 April 2013 | | Business activity in the South West private sector declined for the second successive month in March. However, the rate of reduction was fractional. New business also fell for the second month in a row, and at a modest pace. Backlogs of work declined solidly, while staff numbers fell only marginally. Output charges were raised at the strongest rate in 18 months. For more download the latest Markit / Lloyds TSB PMI Report for the South West. |
| April Update - South West Business Tracker | 03 April 2013 |  | The South West Business Tracker has just been published providing ‘real-time’ information about the performance of some of the most significant publicly traded businesses in the region.
The April 2013 update to the Business Tracker highlights the continued strong performance of the stock market over the first few months of the year reflected in SW Business Tracker companies. The consolidated price index continued to rise strongly during January and February, with a small downward adjustment taking place in March as the overall market paused for breath and digested contrasting events such as the Cypriot crisis and recovering US consumer expenditure. The period saw several of our companies announce strong trading figures. Hargreaves Lansdown, Supergroup and Unite all reported a healthy set of results. In contrast, Imperial Tobacco, Rotork and Kingfisher issued more cautious trading updates - all citing different reasons for weakness. This includes foreign exchange movements, inclement weather and - in the case of Imperial Tobacco - the black market for tobacco products.
For more on the performance of individual companies click on the link below.
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| Economic Survey highlights first quarter progress thanks to service sector | 02 April 2013 | | The Q1 2013 British Chambers of Commerce’s Quarterly Economic Survey (QES) shows that the economy has made progress, but there are still some mountains to climb before it is fully back on track.
The new survey, made up of responses from more than 7,000 businesses, shows that most key balances in both the manufacturing and service sectors strengthened in the first quarter of 2013. Export balances in services are particularly strong, with deliveries and orders near the all time high in 1994. Business confidence and investment are also up, and cashflow, although still relatively weak, is now positive for both manufacturing and service sector businesses.
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| Total and youth unemployment increases in the last month, but overall decline over the past year | 25 March 2013 |  | Please note that these figures, sourced from NOMISweb, are not seasonally adjusted, and so may differ from those published elsewhere.
Last week's claimant count release highlights that the total number of working age people (16-64) claiming Job Seeker's Allowance in the South West increased from 88,817 to 90,670 between January and February 2013, (+1,853, or 2.0%).
It also shows, however, how the total number of claimants in the South West is lower than this time last year -having fallen by 8,269 or 9.1%, Between February 2012 and February 2013, the number of claimants fell by 8,269 (-9.1%). Over the same period in England, the number of claimants also dropped by 5.1% over the same period.
The number of 16-24 year olds claiming JSA increased from 24,685 to 25,830 between January and February 2013 – (+1,145 or 4.4%). Overall, over the past year, this number has however fallen by 5,230, (-21.1%).
For all LEPs over the past year, claimant count has gone down– . However, all except Cornwall and Isles of Scilly LEP, have seen an increase in claimant count figures over the past month.
For Cornwall and Isles of Scilly LEP, there were a total of 10,484 claimants in February 2013, a decrease of 143 from January 2013 (-1.4%) and a decrease of 632 from February 2012 (-6.0%).
For the Dorset LEP, there were a total of 10,237 claimants in February 2013, an increase of 390 from January 2013 (+3.8%) but a decrease of 727 from February 2012 (-7.1%).
For the Gloucestershire LEP, there were 10,517 claimants in February 2013, an increase of 205 from January 2013 (+1.9%), but a decrease of 565 from February 2012 (-5.4%).
For the Heart of the South West LEP, there were 27,302 claimants in February 2013, an increase of 642 from January 2013 (+2.4%) and a decrease of 3,368 from February 2012 (-12.3%).
For Swindon and Wiltshire LEP, there were 10,436 claimants in February 2013, an increase of 485 from January 2013 (+4.6%) and a decrease of 1,315 from February 2012 (-12.6%).
For the West of England LEP, there were 21,694 claimants in February 2013, an increase of 274 from January 2013 (+1.3%) and a decrease of 1,662 from February 2012 (-7.7%).
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| Presentations from SWO Transport and Infrastructure Event | 22 March 2013 |  | You'll now find all presentations from this week's SWO Transport and Infrastructure event which explored local readiness to engage with devolved transport-related responsibilities.
See what DfT's Liz Charlton, Travel Watch South West's Chris Irwin and Jim Steer of Steer Davies Gleave all had to say by following the link below.
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| Housing, Planning and the Economy - Post Event Information | 22 March 2013 | | Following on from last month's Housing, Planning and the Economy event, you'll now find all presentations added to the SWO site, including a short video of George Ferguson's presentations (also see above).
We're also grateful to speakers on the day, including Nick Boles MP and Glen Bramley, who have provided mini follow-up essays on the topic. Read their thoughts and observations by following the below link.
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| Regional Economic Indicators - March 2011 | 13 March 2013 |  | Today's (Wednesday 13/3/2013) ONS Regional Economic Indicators analyse data from the onset of the 2008/09 recession to the latest available. They point towards a clear trend with London outperforming the rest of the UK economy. Other key points emerging within the Regional Economic Indicators are:
Economic Output
• In 2011, the Greater South East (London, the South East and East of England) contributed 45.2% of UK GVA, the remaining English regions 40.6% and Scotland, Wales and Northern Ireland a combined 14.2%.
• London increased its share of UK GVA from 20.7% to 21.9% between 2007 and 2011. All other regions/countries either had an unchanged share of UK GVA in 2011 compared with 2007 or a lower share in 2011.The share of the finance and insurance services sector within GVA increased in all regions/countries between 2000 and 2010 while the share of manufacturing in GVA declined in all regions/countries.
Labour Productivity
• In 2011, nominal GVA per hour worked in London was 29.4% higher than the UK average. The South East was the only other region with productivity above the UK average.
• Nominal GVA per hour worked is lowest in Northern Ireland and Wales (16% and 15.4% below the UK average respectively).
The Labour market
• During the period Q4 2007 to Q4 2012 there was a statistically significant increase in the unemployment rate in all regions/countries, with the largest increase in the North East region.
• Scotland and the English regions of South West, South East, East Midlands and Yorkshire and The Humber all had a statistically significant decline in employment rates over the same Q4 2007 to Q4 2012 period.
• Economic inactivity rates for London and the West Midlands are at record lows, with a number of other regions close to that mark.
Income of Residents
• In 2010, Gross Disposable Household Income (GDHI) was above the UK average in the ‘Greater South East’ regions (East of England, London and the South East), but below the UK average elsewhere.
• Between 2006 and 2010, growth in nominal GDHI per head was largest in London and Scotland and lowest in Northern Ireland, East Midlands and Yorkshire and The Humber.
• In 2012, London’s residents had the highest gross median weekly pay, at £651 for males and £575 for females.
• Northern Ireland had the lowest gross median weekly pay for males (£479) while the North East had the lowest gross median weekly pay for females (£406).
Innovation
• In 2011, the East of England had the highest expenditure on Research and Development (R&D) relative to the size of its economy with spending equivalent to 3.2% of its regional GVA; London had the lowest expenditure relative to its GVA (0.4%).
• The South East, East of England and North West regions of England accounted for 60% of UK R&D expenditure.
Enterprise
• Business births exceeded business deaths in all regions/countries in 2011, apart from Northern Ireland and Wales.
• London and Scotland have seen larger increases in the number of active businesses over the 2007 to 2011 period relative to other regions/countries.
• Business survival rates were lower for businesses born in 2008 than they were for businesses born in 2005 in all regions/countries. Northern Ireland experienced the largest net decline from the highest rate of survival in 2005 (71.1%) to the lowest in 2008 (50.5%).
International Competitiveness
• The total value of exports increased in all regions between January-September 2009 to January-September 2012, with the West Midlands experiencing the largest increase (66%) and the North West the smallest (6%). Across all regions/countries, exports to non-EU countries increased by more than exports to EU countries over this period.
• Over a longer time period, when compared to 2006, exports in 2011 had increased (relative to regional GVA) most in the North East, Wales and the East of England, but fallen as a share of regional GVA in East Midlands.
Skills
• In 2011, Northern Ireland had the highest proportion of the population with no qualifications whereas the South East had the lowest (21.7% and 7.9% respectively).
• London had the most 16-64 year olds educated to NVQ level 4 and above (equivalent to degree level) at 45.9% in 2011, Northern Ireland had the lowest share with 25.7%.
• During the academic year 2011/12, the highest rate of achievement amongst the English regions for 5 or more GCSEs A* to C, including Mathematics and English was 62.3% in London; the lowest was in Yorkshire and The Humber with 57.3%.
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| Claimant Count Update - February 2013 | 21 February 2013 | | Please note that these figures, sourced from NOMISweb, are not seasonally adjusted, and so may differ from those published elsewhere
This week's claimant count release highlights that the total number of working age people (16-64) claiming Job Seeker's Allowance in the South West increased from 84,506 to 88,817 between December 2012 and January 2013, an increase of 4,311, or 5.1%.
It also shows how the total number of claimants in the South West is however lower than this time last year; having fallen by 7,266 or 7.6%, between January 2012 and January 2013.
For 16-24 year olds claiming JSA, this number increased from 23,630 to 24,685 between December 2012 and January 2013, an increase of 1,055, or 4.5%. However, between January 2012 and January 2013, this number fell by 5,230, or 17.5%.
For all LEPs, claimant count has gone down over the year – but all have seen an increase over the past month.
For Cornwall and Isles of Scilly LEP, there were a total of 10,626 claimants in January 2013, an increase of 659 from December 2012 (+6.6%) but a decrease of 167 from January 2012 (-1.6%).
For the Dorset LEP, there were a total of 9,847 claimants in January 2013, an increase of 522 from December 2012 (+5.6%), but a decrease of 877 from January 2012 (-8.2%).
For the Gloucestershire LEP, there were 10,312 claimants in January 2013, an increase of 481 from December 2012 (+4.9%), but a decrease of 354 from January 2012 (-3.3%).
For the Heart of the South West LEP, there were 26,660 claimants in January 2013, an increase of 1,488 from December 2012 (+5.9%) and a decrease of 3,186 from January 2012 (-10.7%)
For Swindon and Wiltshire LEP, there were 9,951 claimants in January 2013, an increase of 496 from December 2012 (5.3%) and a decrease of 1,477 from January 2012 (-12.9%)
For the West of England LEP, there were 21,420 claimants in January 2013, an increase of 665 from December 2012 (+3.2%) and a decrease of 1,205 from January 2012 (-5.3%)
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