Export sales in the North East ofEngland have fallen for the second quarter in a row, in spite of the fact that many manufacturers claimed that the weak pound was boosting business. The statistics were quoted in the North East England Chamber of Commerce’s Quarterly Economic Survey, which tracks the growth of companies across the region.
Export sales received a score of -3.6, which means that overall overseas sales fell marginally over the year; this is the first time since 2009 that export sales have fallen for two consecutive quarters.
The fall was caused mainly by service sector exports, although manufacturing exports remained flat. It was predicted that manufacturers in the North East would see a boost to overseas sales after gaining a competitive edge from the decreased value of the Brexit-hit pound.