Yorkshire's economy losing £170m a day due to crisis

New data shows that the value of the region's goods and services has fallen 37 per cent from £466m per day to £296m a day since lockdown measures were implemented to combat the spread of the disease.

The figures, published by law firm Irwin Mitchell and the Centre for Economic and Business Research (Cebr), claims Yorkshire has been particularly impacted due to its large manufacturing base, which contributes an estimated 14.3 per cent of the local economy, in comparison to 9.2 per cent for the UK as a whole.

However, with consumer spending plummeting and many industries that manufacturers sell into having been shut down due to the lockdown restrictions, the sector has seen 73 per cent of its value wiped out.

Accommodation and food services suffered the biggest overall damage with 94 per cent of its value being lost. Vehicle retail has also been badly hit with 61 per cent being wiped out.

And, despite Leeds being home to a strong professional services sector, the rest of the region is not, with many sectors unable to switch to remote working.

However the report also shows that some sectors such as agricultural, forestry and fishing, along with the information and communication sector, have remained strong with a relatively low daily GVA fall of 14 per cent and two per cent respectively.