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Mansfield ‘leading economic recovery from lockdown’

Posted onPosted on 25th Sep

Mansfield is one of a several under-performing towns set for a regional revival in response to Covid-19, according to a new analysis of Post Office data by the Centre for Economics and Business Research (Cebr) released today.

The report, Turnaround Towns, analysed 10 towns in northern England and the Midlands with lower than average growth over the past five years and four metrics from the Post Office that act as a reliable proxy for local economic activity.

Among the report’s key findings was that nine of the 10 places analysed saw increases in usage of the Post Office’s Drop & Go service from May to July as people bought and sold more on marketplace platforms.

In Mansfield there was a 32% increase in use compared to the preceding three-month period where there had been a 16% reduction in use. This suggests that being able to sell goods online was a factor in maintaining and growing income for many as Mansfield came out of lockdown in the summer.

The return of items bought online to Post Office branches soared in all towns across May to July, compared to the previous three months. In Mansfield it increased by 60%.

Business deposits are returning, slowly, and Mansfield saw a 7% increase in cash deposits between May and July. Also, in Mansfield cash withdrawals increased by 7% with the total value of cash withdrawals rising from £3.59 million in the three months to April 2020 to £3.85 million in the three months up to July 2020.

A recovery ranking based on an aggregation of the metrics estimates that Mansfield experienced the largest boost since the spring lockdown with a score of 27% across the four indicators.

Post Office chief executive Nick Read said: “Many towns have long been in the economic shadow of nearby cities so it is encouraging to see strong signs of growth and revival as more people work where they live. Post Office will play its part helping people to withdraw and deposit cash locally to them as well as send parcels to anywhere in the world.”

Janet Langdon, Postmaster for Southwell Road Post Office, Mansfield, said: “The past few weeks have felt as busy as Christmas as more and more local customers are coming to rely on our services. Being able to withdraw cash over the counter has been incredibly popular. We have always had a more elderly customer base but increasingly younger customers have been popping in and all customers have welcomed the opportunity to stock up on food and other essential items in the one place.”