The State of Britain

North West

  • An impressive increase in the NW’s productivity and house prices rise by 15%

    A nowcast for the NW 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 NW economy contracted by 12.7%. This ranked the NW ninth in the UK (previous ranking fifth). 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...