Rebalancing the Economy

The UK is set to be more geographically balanced over the next three years. However, this is due to slower growth in the services sector having a detrimental impact on the south of the UK rather than other regions 'catching up' through improved performance, finds EY's Regional Economic Forecast.

Key findings include:

Brexit uncertainty for the UK capital: London will continue to outperform all other UK regions through to 2021, however the gap is expected to become smaller.
The South East is the only region expected to see an increase in employment growth: A slowing economy, expected lower EU immigration and technological change are all contributing to this anticipated shift in the labour market.
Regions with a large manufacturing base enjoyed a boost last year: This was due to weaker sterling making exports more competitive. The West Midlands benefitted from this. However, more subdued growth is expected for these regions in 2018-21.

DOWNLOAD INSIGHT

Related Insights

Read, watch & listen to some of the latest thought leadership from our Community.

The Inspiring Leaders Podcast...

Focused on what leaders should be prioritising over the next twelve months, advice for first-time CEOs and how Chairs in high-growth businesses can better support their CEOs. Key discussion points include: Pr...

True Diligence: Preparing for...

In the face of escalating societal demands, intensified stakeholder scrutiny and expanding global regulatory requirements, the pressure is on for businesses to assume their collective responsibility towards both people ...

Cultural Integration in M&A

Most economists are predicting higher volumes for M&A over the next 12 months, albeit coming off a low base. In this article, Criticaleye’s Jacob Ambrose Willson hears from Matthew Parker, CEO of the highly ac...