London’s economy has outstripped all other regions, according to data that emphasises the government’s challenge to “level-up” the country.
Output in the UK’s capital rose by 0.9% between the second and third quarters of last year, far outstripping the 0.1% national contraction, according to figures from the Office for National Statistics.
Meanwhile, output in Wales and Scotland fell by 2% and 0.3% respectively during the same period, while growth was flat in Northern Ireland and England.
The East Midlands was the worst-performing English region, suffering a 1.6% contraction.
Susannah Streeter, senior investment analyst at asset manager Hargreaves Lansdown, said levelling-up policies had “clearly failed to make much of an impact on moving the economic dial much for regions in need, with London still appearing to be the magnet for investment”.
