Research finds Geordies share growing pessimism over Newcastle’s economic future

A recent survey looked into how Geordies were feeling about the future as life returns to normal and the economy readies for a bounce-back.

However, just 56% of those polled shared optimism for the long-term economic future of the North East.

That figure is down on April's statistics when 60% of locals believed in a brighter future.

At the start of the year the figure was a lowly 51%, meaning that locals are feeling more positive than the start of 2021, even if the optimism of April has fallen away.

The research was conducted by Ipsos Mori on behalf of Transport for the North earlier this month with around 400 people in the North East taking part.

Despite the long term pessimism, research also found that locals are currently dramatically happier than earlier this year.

53% of those involved ranked their satisfaction with life as 7 or more out of 10, which is a big increase on January's 41%.

There's also increased positivity about the region's short-term economic prospects, despite the loss of faith in longer-term performance.

54% of participants shared an optimism for how the economy will perform over the next 12 months - only 33% of people taking that opinion in January.

Chris Rigby, Associate Director in Ipsos MORI’s Transport and Infrastructure team, said: "Our most recent survey for TfN finds Northerners in an increasingly buoyant mood about the prospects for the Northern economy over the coming 12 months.

"They are also feeling more positive about their own well being compared with the start of the year, reflecting the changing context around the pandemic and the easing of restrictions.

"But there is a cautionary note in the survey findings – Northerners’ optimism around the region’s longer-term economic prospects has fallen away slightly since the spring.”