Chamber News

Date published: 15 December 2011

Latest Inflation Figures The Consumer Price Index (CPI) in November fell to 4.8%, down from 5.0%, and the Retail Price Index (RPI) also fell 0.2% to 5.2%.

Dr Brian Sloan, Chief Economist at Greater Manchester Chamber of Commerce, said: "This is a welcome fall but consumers are still being squeezed as real earnings are not keeping pace with inflation and retailers are likely to continue to see challenging times in the months ahead.

"Consumers will have seen a slight benefit from the downward pressure on prices as a combination of food and fuel price falls and lower increases on clothing and household goods than was seen in the same period last year. Unfortunately for businesses the business rate increase for April next year is based on the 5.6% RPI measure in September.

"Though we are in a tough economic climate there is better news looking ahead. Heavy discounting by retailers in the run up to Christmas is likely to reduce inflation further and from January it will continue to fall as the impact of the VAT rise earlier this year drops out of the measure." 

Unemployment Claimant Count Falls The number of people claiming Jobseeker’s Allowance in Greater Manchester has fallen again.

Last month 81,738 people claimed the benefit compared with 82,240 the month before.
Dr Brian Sloan, Chief Economist at Greater Manchester Chamber of Commerce, said: “As we are about to release our Quarterly Economic Survey report tomorrow, today’s figures have little to surprise us for Greater Manchester.

“The fall in the claimant count across Greater Manchester in November is encouraging at this time and more positive is the fall of 630 in the number of young people aged 18 to 24 claiming Jobseeker’s Allowance.

“The region is certainly outperforming the national picture in terms of job creation. The headlines may point to the region’s rise in unemployment, however this is due to an increase in economically inactive people who are now looking for work.

“Whether these trends will be maintained in the months ahead is uncertain, but the Government has responded to the Chamber’s call for infrastructure investment, support for exporters and regulatory reform with plans in the Chancellor’s Autumn Statement. What we need now is swift execution of these plans without delay.” 

Keen To Be Green Many thanks to all the businesses who entered the Chamber’s Greater Manchester Green Business Award. A large number of entries were received in the small and large business categories, from across Greater Manchester. Shortlisting will now take place, with the finalists to be announced by mid-January with judging set to take place in early February. Two overall winners will be announced at the Chamber’s Annual Dinner on 8th March 2012.

Community Commendations Business in the Community has launched its prestigious annual awards scheme. With increasing public scrutiny on the role of business in society, Business in the Community’s Awards for Excellence recognise the powerful and positive role that business is playing in local communities by rewarding companies for the impact and innovation of their responsible business programmes across a number of categories. The closing date for entries is Monday 5 March 2012. For further information about the 2012 Awards categories and sponsors, or to download an application pack, visit www.bitc.org.uk/NWawards