LONDON was probably the only part of the UK to enjoy a rise in consumer spending between 2006 and 2012 in real terms, but Scotland likely managed to stand still on this measure while every-where else suffered a fall.
LONDON was probably the only part of the UK to enjoy a rise in consumer spending between 2006 and 2012 in real terms, but Scotland likely managed to stand still on this measure while every-where else suffered a fall.
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IAN McConnell
These are the conclusions of a study by respected consultancy Capital Economics, which estimates average, inflation-adjusted growth of consumer spending in London between 2006 and 2012 at 0.7% per annum.
Explaining London's outperformance of other parts of the UK, in terms of consumer spending during a period which takes in the deep 2008/09 downturn and double-dip recession between October 2011 and June 2012, Capital says in its latest UK Cities & Regions Focus study: "This particularly reflected growth in the financial, professional and digital sectors, boosting employment and particularly pay."
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