Distribution warehouse development in Avonmouth welcomes economic upturn

Central Park, the distribution warehouse development in Avonmouth, and other businesses have welcomed the growing economy pushing past its pre-recession peak of 2008.

The UK’s economy GDP grew by 0.8 per cent in the second quarter of 2014. It has grown three per cent from the same point last year. The previous peak was in the first quarter of 2008, after which came the credit crunch and resulting recession which saw the economy shrink by 7.2 per cent. The news was welcomed by businesses and business leaders in Bristol.

Rob Law, chief executive of Bristol-based child luggage maker Trunki, said the growing economy was reflected in his business too. He said: “We’ve experienced significant growth with our exports, which are up by 25 per cent. Trunki has just launched in the USA, Northern Europe and China and all three are performing extremely well. We’ve hired five new members of the team and we’re currently undertaking a significant investment strategy after the Business Growth Fund injected £4 million into the business for future growth.”

He added the firm plans to launch two new products this year.

Phil Smith, managing director of regional business organisation Business West, said its own surveys backed up a growing confidence. He said: “Our Local Business Survey this quarter of over 740 businesses across the region paints a positive picture for our region and builds on a strong start to the year. Quarter two results showed that growth remains on a firm footing here, with increases in domestic sales and orders fuelling business confidence, which is up on both the quarter and the year, standing at 74 per cent.”

Government figures show employment has increased by 139,356 across the whole South West since 2010.

Mr Smith said the jobs figures had been reinforced by businesses reporting they had recruited more staff this quarter and expect to continue to do so over the next three months. He added: “There is still work to be done to address such issues as the trade deficit, low productivity and the labour market skills gap to ensure long term sustainable growth, but overall our survey results show the South West economic recovery is on strong ground.”

Source: Bristol Post