South-east's economy 'like rollercoaster'

Economy like a rollercoaster

Economy like a rollercoaster

First published in News

THE SOUTH-EAST economy has bucked the national trend by behaving more like a “rollercoaster”, according to a Southampon insolvency body.

The research by insolvency trade body R3 found instead of stagnating like the rest of the country, the region’s distress signs peaked and troughed throughout the year.

Notably, the percentage of businesses making redundancies jumped from five per cent in June to 21 per cent in November.

Meanwhile, companies seeing a reduction in sales volumes yo-yoed from 41 per cent in March to 21 per cent in June, leaping back up to 40 per cent in November.

Other indicators such as experiencing decreased profits and regularly using their maximum overdraft facility were also changeable throughout the year and increased from June to November, R3 said.

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