ABERDEEN maintained its position as the strongest city economy in Scotland across the first few months of 2018, according to a new report which also revealed that Edinburgh was among the worst performers across the period.
The UK Powerhouse study, produced by Irwin Mitchell and the Centre for Economics and Business Research, provides an estimate of GVA growth and job creation within 46 of the UK’s largest cities at least a year ahead of the Government’s official figures.
Published this month, the report revealed that Aberdeen was ranked 16th in the UK in terms of economic performance in Q1 2018 after the city recorded a GVA growth rate of two per cent.
Glasgow followed closely behind with GVA growth of 1.8%, but Edinburgh’s rate of 1.5% meant the capital was ranked in the bottom eight of the Powerhouse table.
In terms of employment growth, Glasgow led the way in Scotland with its workforce increasing by 1.4% across the quarter, while Aberdeen and Edinburgh recorded growth rates of 0.8% and 0.9% respectively.
The new report also revealed that Glasgow was expected to continue to enjoy strong employment growth across the next decade, with its workforce expected to increase by 13% by 2028. In contrast, Aberdeen’s employment level is only predicted to rise by 5.4% across the same period.
Mark Higgins, partner at Irwin Mitchell’s Glasgow office, said: “The latest Powerhouse report offers a fairly mixed outlook in terms of Scotland, with Aberdeen leading the way economically while Glasgow has enjoyed decent employment growth.
“Glasgow is also expected to set the pace in terms of employment across the coming years and it will be interesting to see if Edinburgh and Aberdeen are able to take steps to improve their own performance in the near future.”
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