Coventry & Warwickshire Chamber reacts to latest GDP figures

Louise Bennett, Chief Executive of the Coventry and Warwickshire Chamber of Commerce

Business leaders in Coventry and Warwickshire say the latest GDP figures reflect the mood among companies in the region.

The UK economy grew by 0.5 per cent in the final quarter of 2015 and by 2.2 per cent in the year.

Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said that there was confidence among firms that the economy would continue to grow but that barriers remain.

She said: “The overall growth for 2015 is down compared to 2014 but still puts the UK economy among the strongest across the globe during turbulent times around the world.

“We know from the statistics and from our surveys and meetings with business across Coventry and Warwickshire that, generally, the economy is performing well.

“But, as we have said previously, there are hurdles to that growth – from being able to access the right skills through to having the land and property to expand into.

“So while the GDP figures should be welcomed we must also heed the warning that for the economy to continue to grow we have to overcome those barriers.

“While many elements can’t be solved at a local level – they come down to national and international decision-makers – we know that there are ways to help our businesses fulfil their growth potential.

“They can access international trade support through the Chamber’s International Trade Hub that can give them access to a whole new world of markets to sell into.

“Through our Go For Growth 16 campaign we have identified other issues – such as infrastructure and finance and taxation – where we can support.”