UK regional growth: mind the gap
People often talk about a North-South divide in the UK. But the real gap isn't between North and South; it's between London and the rest.
06 March 2014
City of London skyline
London grew by 107% between 1997 and 2011, compared with 74% for the rest of the UK. What makes it so special? We attribute London's outperformance to two factors.
First, its sector shape: London’s economy has a high share of fast-growing sectors (for example, professional services).
Second, its competitiveness: companies in a given sector have tended to grow more quickly in London than their counterparts in the rest of the country.
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