Liverpool City Region economy growing faster than national average
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%.
Alongside Cheshire & Warrington the city region is the fastest growing LEP (Local Enterprise Partnership) area in the country.
Analysis of the 2017 figures by the Liverpool City Region 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 and retail, education, construction and information and communications.
Since 2013, GVA from the manufacturing sector in Liverpool City Region has increased by an average 2.1% per year compared with 1.4% for England.
Within the information and communications sector, the city region records a stronger growth rate than the national average, particularly around film and TV productions and computer programming and consultancy.
Liverpool City Region LEP chair, Asif Hamid, 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.”