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Fast growth in the region

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Business has grown faster in the East Midlands than any other English region outside London this year, according to latest figures.

The statistics have been compiled by the Royal Bank of Scotland (RBS) in its growth report. Unemployment fell faster than any other region last year in the East Midlands, the report found. The region’s economy grew by 0.9 per cent in the last quarter and it is one of four English regions whose economies have returned to pre-recession levels.

The RBS regional growth tracker for the past quarter said distribution and retail industries, which make up a fifth of the region’s economy, had contributed “substantially” to its success.

The economy is almost four per cent bigger than a year ago and growing twice as fast as it was last year. A total of 104,000 jobs were created last year, it said.

n If you run a company in the Ripley and Heanor area, what is your view? Is business booming or are you struggling? Tweet us at @rhnews or email news@rhnews.co.uk.

 

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