The recession will impact different businesses, individuals and communities in different ways, with some places more resilient or more vulnerable than others. Local Authorities need to understand the impact on their local area and respond with evidence-based strategies that will constructively minimise the short-term impact, whilst at the same time helping take strides towards meeting their long-term vision.
Experian’s Local Economic Resilience assessment draws on decades of experience in assessing and forecasting local economies. Using official datasets and our proprietary business, consumer and economic data, we provide an up-to-date picture of the economic climate and the impact it is having on economies, businesses and communities.
The assessment comprises a data scorecard and analytical commentary for the local area, including:
- A headline, ‘at a glance’ resilience dashboard, including composite index scores for resilience and each of the dimensions that influence it;
- Observed economic resilience measures, providing an indication of how the local economy is faring during the downturn and forecasts for the outlook over the short and medium term;
- An assessment of the impact of the economic downturn on business, people, community, and place;
- An examination of the dimensions that influence economic resilience, to help explain the observed economic resilience of the local area.
The Local Economic Resilience assessment provides an invaluable ‘health check’ of the local economy in this new and more challenging economic climate, helping to steer an effective short and long term policy response.
For more information contact us, or download our Local Economic Resilience factsheet. Or for more information on our recent research for the BBC regional debates, click here.