UK’s economic performance led by London across the board
9 July 2014 2:21am
London tops the country’s tables on almost every economic measure, according to statistics released yesterday that underscored the capital’s dominance.
The Office for National Statistics’ latest regional breakdowns showed London led on predictable measures such as earnings. But the city is also in the lead on some measures of education – more pupils leave the capital’s schools with good GCSEs than in any other part of the country, for example.
London’s businesses are also more dynamic. As a share of active enterprises, 14.8 per cent of the capital’s businesses are created and 11.7 per cent close each year.
One of the few measures on which London does poorly is exports of goods. As a percentage of gross value added (GVA) they reach only 11.3 per cent, the lowest of any part of the country. This is likely because as a share of GVA, manufacturing makes up just 2.7 per cent in the capital.
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