According to EY’s latest Regional Economic Forecast, it is expected that the West Midlands will be the fastest growing UK region outside of London and the South East over the next three years.

The report by EY (Ernst & Young Global Limited) highlights an overall “slowing of UK growth”, but predicts the West Midlands will have 1.8 per cent Gross Value Added (GVA) per year. (GVA is the value of goods and services produced in an area.)

The West Midlands figure is ahead of the predicted growth figure for the East Midlands (1.7 per cent), the North West (1.5 per cent) and Scotland (1.5 per cent).

London and the South East are predicted to continue to outperform all other UK regions between now and 2020, with GVA growth of 2.2 per cent and 2.0 per cent respectively.

The West Midlands’ growth between 2014 and 2017 (“at a level more than double the national average”) is credited in the report as being down to our strong performing manufacturing and logistics sectors.

You can download the full report here.

How are you planning to grow your business in 2018? Check out our growing your business page for resources and inspiration, or our growth for small businesses page. And do send Think Sandwell your success stories this year – we’re always keen to share them with our West Midlands network.