• Northern economies contract the most and UK debt exceeds 104% of GDP November, 2020

    A nowcast for the UK ‘regions’ for the 12 months ended September 2020 on a rolling 4 quarter basis, published by the Economic Statistic Centre of Excellence (‘ESCoE’), has estimated that the North East was ‘best’ with a fall of 6.5%, with Wales’s 11.4% contraction the ‘worst’; the UK decline according to these figures was c8%. However, the total percentage change in each region’s GDP relative to the end of 2019 has the East of England ‘best’ at -4% compared with -8% across the UK, and about -16% in the North East. ESCoE is a partnership of research institutions and the Office...