16 December 2014

Brighton & Hove economy beating the UK and region

Economic growth in Brighton & Hove is outstripping that of the south-east and the UK.

The economy expanded by five per cent in 2013 compared to three per cent regionally and nationally.

The value of goods and services produced per head went up by 3.75 per cent   The national figure was 2.5 per cent and that for the south-east two per cent.

Based on figures from 2012, the top sectors driving growth were production, which increased by nearly 20 per cent, or an additional £55m.  Of this sum, manufacturing accounted for an extra £21m, an increase of 14 per cent.

Information technology grew by 15 .5 per cent, adding £55m to the economy.

Public administration, education and health rose by 7.2 per cent, boosting the city by £96m.

Chair of the economic development and culture committee Cllr Geoffrey Bowden said:  “This is very encouraging.  National studies have identified Brighton & Hove as having potential to lead the way out of recession because of its strengths in the high-tech industries of the future.  That sector is showing really strong growth. 

“The council and neighbouring authorities are busy trying to encourage that through initiatives like the City Deal.  The signs are that we’re as attractive to businesses as we are to tourists.

“But we must remember that these growth figures do not tell us how increased wealth is distributed.  Making sure that the economy is as inclusive as possible, offering opportunities to all, continues to be our goal.”

See the government data on the Office for National Statistics website.