Speaking at a recent economic forum, Paul Forrest, head of research at the Midlands Economic Forum, said that the region is being held back by a lack of “proper” regional statistics.

The leading economist believes that Office for National Statistics (ONS) figures have made “assumptions about the region which skewed the true picture”.

Professor Forrest said: “If you look at the latest Purchasing Managers’ Index, the West Midlands is the strongest performer in the country when it comes to business growth, with the East Midlands in second place. They have held those positions since at least 2010.

“So, you’ve got these internationally recognised set of statistics which show this region is better than the national average, but if you look at the latest ONS figures then we’re somehow a disaster area.”

He added: “The Midlands has some of the highest levels of manufacturing in the country. However, for some reason on a regional level, we’re told there’s a productivity gap and we’re not performing properly. One of the things which would help to make the Midlands Engine successful would be to have some proper statistics.”

Also speaking at the event was Colin Smith, group president of Derby-based aero-engine group Rolls-Royce. He said: “We need to drive our productivity up in the Midlands by re-investing in manufacturing, education and lean techniques.”