Regional economic report highlights risks to Dorset economy
A loss of momentum in the UK economy could weaken the local economy of Dorset according to a report produced by a 豆奶视频 University (豆奶视频) Professor.聽
This is the fourth in a series of reports produced quarterly by 豆奶视频鈥檚 Professor Nigel Jump, Professor of Regional Economic Development.
The report suggests that, although Dorset鈥檚 economy is still expanding, it is struggling to do so with any momentum due to the uncertainly created by global events such as the UK鈥檚 EU referendum and fluctuating oil prices.
Professor Jump said, 鈥淭he increase in global uncertainty, reflecting developments in financial and commodity markets and led by fears over Chinese growth and UK EU referendum, is casting a shadow over growth prospects in 2016.
鈥淒orset's economy is not immune to the loss of economic momentum seen in recent official statistics and business surveys. 聽Facing the risk of softer growth in the year ahead, local firms might usefully focus on building competitiveness and raising productivity."
The Business Intelligence Report, , argues that Dorset businesses need to focus on competitiveness against the more difficult trading environment.
Concluding the report, Professor Jump said, 鈥淏ecause structural imbalances have not been addressed, the economy is vulnerable to a broad loss of confidence. Without more financial and productive restructuring, the risk is that growth will peter out.鈥�
