AS a chartered accountant, I am used to reviewing, interpreting and discussing statistics with clients on a daily basis.

Reading the business press can feel confusing.

In the past few weeks we have seen various statistics, some of which may appear to conflict with others.

As with all statistics, they must be viewed cautiously and critically and set in context. Is the recent announcement that there has been a decline in purchasing activity during January a reflection of the coldest snap in 30 years and/or the recent change in VAT rates, or is there a more fundamental reason?

We have also had the news that economic activity increased in the last quarter (albeit by a less-than-overwhelming 0.01 per cent).

One widely reported figure is the Consumer Price Index, which showed an increase in the headline rate of inflation from 1.9 per cent to 2.9 per cent in December.

This increase seems to have concerned some in the City, although according to most economic commentators, the Bank of England target of two per cent over the next 12 months is still achievable.

Writing of the Bank of England, I would like to thank David Buffham and William Dowson, the Bank of England’s agent and deputy respectively here in the North.

While David is retiring, William is moving on to become the agent for Scotland.

Both have actively engaged with the business community, both collating information to assist the Monetary Policy Committee in making its monthly decisions, but also providing much-needed clarity as to the Bank’s decision processes and expectations.

David will be replaced by Rosie Smith, who is currently the deputy agent for East Midlands, and I look forward to welcoming her to the region.

I would also like to thank Denis Pinnegar of BIB Insurance Brokers, who has been the Chairman of the North East Chamber of Commerce (NECC) Darlington Committee for a number of years and who is due to retire soon. His energy and input will be sorely missed.

Moving on to more local news, the announcement of the postponement of the Teesside Cast Products closure from January 31 was welcome. However the new deadline of February 16 has provided little breathing space in which to move the issues surrounding this forward.

On a positive note, it is good news that Artenius jobs have been saved now that the plant has been sold.

We should also look forward with great pride to the Tall Ships event to be staged in Hartlepool in August. As one of the ten largest outdoor events in the UK this year, this will bring a much-needed boost to our regional economy.

■ Chris Beaumont is chairman of NECC Tees Valley.