Businesses across the East Riding and Humber area performed noticeably better than their counterparts across the UK over the last quarter, a new survey found.
This reflects several good news stories locally, from Hull City of Culture, to Flemingate in Beverley, as well as progress in renewables on both banks of the Humber.
However, in manufacturing and exports, alarm bells are ringing. China’s slowdown is impacting on global trade generally and its dumping of steel into UK and European markets is causing intense problems.
Chamber chief executive, Dr Ian Kelly, said: “The Government must redouble its efforts to help ensure a level playing field for UK manufacturing via an active industry policy for the likes of the steel and chemicals industries in which this area is strongly represented.
“This is a must to ensure the Humber can play its full role in making the Northern Powerhouse initiative a reality on this side of the Pennines, across the North South divide and in the lop-sided balance between services and manufacturing.”
He went on to stress: “As we enter the New Year, we strongly endorse Chancellor George Osborne’s view that UK debt must continue to be brought down, even and especially in the difficult global conditions we face in 2016.
“Essential strategic decisions affecting business are also likely to be made this year. Understanding the economic consequences of managing these issues badly is something the Government and politicians generally have to be most careful about in 2016.”