THE North East could be a key driver in the UK’s economic recovery, according to the Bank of England’s chief economist.
Spencer Dale, who is also a member of the Monetary Policy Committee, said: “The North East, in terms of contribution to gross domestic product, is towards one of the smallest regions of the UK, but it is overweight in manufacturing and exports.
“This should be and hopefully will be, a key driver of our recovery.
“So the type of industry which is concentrated in the North East in terms of manufacturing with big exposure to exports, is important.”
Mr Dale was answering questions following an address to the South Tyneside Manufacturing Forum at the Customs House, in South Shields.