The Midlands Engine Observatory has published its latest Covid-19 Economic Impact Monitor (6th Edition), providing an overview of both national data and Midlands level data.
Download the 6th Edition here.
The 6th Edition includes analysis of:
- the Bank of England forecasts for a V-shaped recovery which, despite the Midlands being hit harder by the economic impact of Covid-19, also suggests the region’s recovery may be quicker than other areas of the country
- a summary of the PMI index which, despite remaining in negative territory, is looking more encouraging
- the likely distribution of furloughed workers by sector and how this has impacted the Midlands economy, especially across manufacturing, creative industries and the visitor economy
- a summary of Make UK’s work looking at the national impact on manufacturing, where losses of £19-35 billion is expected. This is likely to have a disproportionate impact on the Midlands economy
- a summary of Make UK’s wider business survey and local intelligence from Leicester
While the analysis of the economic picture for the Midlands in this 6th Edition remains very concerning, it will provide support to decision-makers, helping to inform and shape short term actions and future policy. In addition to our fortnightly editions of the Covid-19 Economic Impact Monitor, the Observatory continues to work on longer-term in-depth data and analysis for the Midlands, providing an evidence base for a targeted recovery plan for our region.
For previous editions of the Covid-19 Economic Impact Monitor and for more information on the Observatory’s work, please visit: www.midlandsengine.org/observatory