South West

  • The regional economy shrinks by 4.9% following lockdown but data for an earlier pre-pandemic period shows the region outperforming all parts of the UK August, 2020

    A nowcast for the SW for the 12 months ended June 2020 on a rolling 4 quarter basis, published by the Economic Statistic Centre of Excellence (‘ESCoE’), has estimated that the SW economy contracted by 4.9%. This ranked the SW second in the UK and suggests the regional economy has so far coped ‘better’ with the pandemic relative to the other eleven UK ‘regions’. Over the same period the East Midlands was ‘best’ with a fall of 4.5%, with London’s 7.4% contraction the ‘worst’; the UK decline according to the Office for National Statistics (‘ONS’) figures was 5.3%. ESCoE is a partnership...