The State of Britain


  • Unemployment in the capital still the UK’s highest and London’s strong economic bounce back in 2020 curtailed by the second lockdown

    A nowcast for London for the 12 months ended March 2021 which incorporates the second lockdown, published by the Economic Statistic Centre of Excellence (‘ESCoE’) on a rolling 4 quarter basis, has estimated that the capital’s economy contracted by 13.1%. This ranked the city eleventh in the UK (previous ranking twelfth). Over the same period the East Midlands was ‘best’ with a fall of 9.4%, with Wales’s 13.4% contraction the ‘worst’. The UK overall posted -11.8% on the same measure. ESCoE is a partnership of research institutions and the Office for National Statistics (‘ONS’) and has highlighted that during these unprecedented times,...