Liverpool City Region economy growing faster than national averagePublished on
Liverpool City Region has the highest growth of any Combined Authority area in England, according to new Government data.
Latest Regional Accounts published by the Office for National Statistics (ONS) show a growth rate of 3.3% in 2017 and places the City Region above the England average economic growth rate of 2.0%. Alongside Cheshire & Warrington the City Region is the fastest growing LEP area in the country.
Analysis of the 2017 figures by the Liverpool City Region Local Enterprise Partnership (LEP) show that Gross Value Added (GVA) growth in the City Region has been driven by an increase in output across a number of sectors including manufacturing, health, wholesale & retail, education, construction and information & communications.
Since 2013 GVA from the manufacturing sector in Liverpool City Region has increased by an average 2.1% per year compared to 1.4% for England.
Within the Information & Communications sector the City Region records a stronger growth rate then national average particularly around film and TV productions and computer programming and consultancy.
Commenting on the figures, Liverpool City Region LEP Chair Asif Hamid MBE said: “These figures underline the progress being made to deliver sustainable economic growth in Liverpool City Region. By supporting our strengths in sectors like manufacturing, health and digital and creative we are enabling real, meaningful change in the City Region.
“Our growth sectors and assets provide us with an outstanding environment for growth and the time to invest in the City Region has never been better.”
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