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Economy

• In 2006 the North West economy was worth £103bn or nearly 10% of the total UK economy. The North West economy is forecast to grow by an average of 2.3% each year between 2008 and 2012, marginally lower than the 2.6% forecast for the UK as a whole.
• Financial and business services accounts for a lower proportion of total output in the region than across the UK. However, growth in this sector over the forecast period, at 4.5% per year, would be expected to have a positive impact upon the commercial sector.
• The transport and communications sector is also forecast to have positive and significant growth over the forecast period in the North West. At 3.6% per year this would be expected to have a positive impact upon the infrastructure sector.

Output

• In 2006 construction output in the North West was worth £8.3bn in 2000 prices, 2.4% lower than in 2005.
• Output is forecast to grow at an annual average rate of 1.4% between 2008 and 2012. This places North West construction marginally below a UK average of 1.7%.
• The infrastructure and public non-housing sectors are expected to enjoy the highest output increases over the forecast period.

Employment

• Total employment in the North West is forecast to stand at 302,110 in 2012, 33,360 or 12% higher than in 2006.
• After taking account of those entering and leaving the industry, the North West requires an average of 8,870 extra workers each year to meet this demand.

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