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The manufacturing sector has been under stress for some time, which has come from disruption of the supply chain, energy costs and a decrease in demand. However, the sector is doing better than it was in the immediate aftermath of the pandemic.

Services represent 83/84% of the UK economy, and we have seen an improvement. Construction is a short-term worry, as there has been a reduction in the pipeline, this could be connected to a slow down in house building.

The International Trade situation is worrying, there are challenges with exports and imports. COVID and lockdown had a significant impact and created disruption, alongside the rising shipping costs.

A Trade Survey by the Chamber Network found that not one business responded that trade was easier with the EU since the EU-UK Trade and Cooperation agreement in 2020. 47% of NW respondents said it was much more difficult.

We are seeing a slight upturn in overall recruitment. There is an increase in recruitment in full time positions, but there is also a marked increase in part time and temporary positions. Wholesale/retail, health and social care and accomodation/food services are all recruiting.

The primary concern for businesses right now is interest rates. The higher the interest rates, the less risks that business can take. There may be a decrease in investment.

In May 2023, in an ONS BICS poll, 77.7% of businesses said that AI is not applicable to their business. With only 48.3% of large businesses responding in this way.

Q3 GM index has had a slight decline and is now 20.4, a drop of 1.7 points from Q2. We will expect some consumer spending in the lead up to the festive period.

Our Head of International Trade said there is a lack of awareness of what businesses need to put in place to continue trading. There is a lack of confidence in the free trade agreement. Businesses don’t understand how to utilise or capitalise on the free trade agreement.

Today we’re hosting our GMCC Excellence Awards Lunch at Manchester Hall We’ll be announcing the winners of our 2023 Awards and celebrating excellence! Stay tuned on our account to stay up to date #GMCCAwards

It’s Showtime, @showbizshel is ready, the crowd is ready, are you? We’ll be starting the GMCC Excellence Awards presentation 2023 shortly! Best of luck to all the finalists #GMCCAwards

So glad you could join us!

We've just released the second edition of Clive's Economic Outlook, which looks at the highlights of the Autumn Statement 2023. Download here: bit.ly/3sVQhSP

The Steve Burne Apprentice of the Year Award 2023 kindly sponsored by Laing O'Rourke is still open for nominations. We invite nominations for any current construction apprentice in the Greater Manchester area. Find out more and nominate here: ow.ly/Sn2k50Qhm5b

We had our new media partners, Eight Engines, over at Chamber HQ today. Look at our very own Lewis Crowe behind the camera - toning perfectly with the artwork in the room, it’s almost like we planned it 🤣👏🏼

Good morning! We’ll be streaming our Q4 Economic Review live from Greater Manchester Business School. You can tune in here from 8:45am: youtube.com/live/dHLVySEZX…

"UK Manufacturing down again for 8th month in a row; unclear picture on UK insolvencies with mixed data leaving things on a knife-edge; house prices set to continue to fall and commercial property market woes continue." Read more here👉ow.ly/Lhps50QgO44

It's finally time for our final Economic Update of 2023 (!) - will it be doom and gloom, or will Subrahmaniam (Subrah) Krishnan Harihara get us in the festive spirit with good news on the economy? 🎅🎄 We'll be posting live updates here - if you want to watch live - tune in here youtube.com/watch?v=dHLVyS…

Another full room at The Lowry for the Salford & Trafford Construction Club. Thanks to University of Salford for sponsoring and Trafford Council for presenting about #socialvalue

GMCC Excellence Awards are now open 🥳🥳 This year we have 11 awards up for grabs which means all businesses will have a chance to leave with an award. Let's take a look at this year's categories, and don't forget, you can apply for more than one!