News - Midlands
West Mids to see 'moderate economic recovery'
The West Midlands is on target for a ‘moderate recovery’ from the recession, but firms need to beware potential pitfalls, according to a report from PricewaterhouseCoopers.
The report projects modest average GDP growth of 0.9 per cent in 2010, rising to 2.1 per cent in 2011.
However, despite encouraging results, Mark Smith, regional chairman at PricewaterhouseCoopers warned that “local companies still need to plan with care”.
He said: “There are some risks affecting our growth forecasts and we therefore recommend that businesses should stress test their plans against the possibility of a double dip recession which could result in a further fall in GDP at some point over the next 18 months.”