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How economic improvements are playing out in the East

The UK economy is back in growth, ending the longest period of double dip recession since the Second World War. The latest GDP figures show the economy expanded by 1% between July and September - the fastest rate of growth since 2007.

Production is up by 1.1% on the previous quarter, and the service sector picked up 1.3%. Construction though is down by 2.5%. Overall it's being seen as a strong performance, but do the figures truly reflect what's happening in the East of England?

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Aviation business park to be built in Norwich

Plans unveiled for aviation business park Credit: Norwich International Airport

Plans have been unveiled to create an aviation business park at Norwich International Airport.

The airport has teamed up with a Cambridge-based property company Wrenbridge to build the new 850,000sq ft park.

And the development already has its first tenant - Air Livery.

The company which paints aircraft, plans to open a new state-of-the art painting facility which could lead to the creation of 120 jobs.

The park will be built on 100 acres of land to the north east of the main runway. The land is currently jointly owned by Norwich City and Norfolk County Council.

Andrew Bell, CEO of Norwich International Airport said: "This announcement marks another positive step forward for the Airport and further demonstrates the key role it plays as a driver of direct and indirect employment and economic growth in the region"

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Cambridge tech firm profits rise

Cambridge technology firm ARM Holdings has announced a rise in revenue and pre-tax profits.

The chip designer, whose technology powers everything from mobile phones to tablet computers reported a 22% rise in pre-tax profits to £128.5m in the first half of the year. Revenue also soared 12% to £422.4m

ARM shares rose 6% in the FTSE 100 Index as it also revealed it had signed a further 23 licences in the period for its microchip technology to be used in a range of products including digital TVs, mobile computers and smartphones.

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Indie band helps boost easyJet

easyJet: Better-than-expected summer Credit: Barry Batchelor/PA Wire/Press Association Images

Budget airline easyJet has enjoyed a better-than-expected summer thanks to cheaper fuel costs and a summer advertising campaign.

The Luton-based airline announced pre-tax profits would be £280m and £300m in the year to September 30, up from previous guidance of £272m and last year's £248m.

easyJet attributes the rise in revenue to its commercial featuring music from Liverpool band The Wombats.