North and South UK Regions Divide

The South East and London are expected to expand higher versus other UK regions in the coming years, as both cities will reach about 2.2% and 2% growth in the economy, respectively. While the remaining area of the country will acquire 1.8%  based on EY’s regional economic forecast. The employment will further surge in London, as the capital city may generate the largest expansion of jobs at 0.8% each year, compared to the rest of the nation.

On the other hand, Manchester plans to upgrade North in order to become the strongest performing city in the United Kingdom. The sluggish performance of the North East came in at 1.2% per year which is projected to extend while employment will decline to 0.1%. The report evaluates the economic performance using the gross value added (GVA), which measures the value of products and services within a specific area.

Moreover, Manchester would likely deliver 2.4% and 1.2% growth in economy and employment, respectively until the year 2020. As the Hull, Stoke-on-Trent and Liverpool and Leeds secure GVA growth by 1.2%, 1.4%, 1.5% and 1.7%. Contrarily, Luton, Thames Valley, Bristol, and Exeter are expecting an expansion of 2.3% each year.