- Scottish capital is biggest mover in analysis of economic momentum
- Greater London closest to a return to positive growth in economic vitality
- Oxford and Cambridge boosted by life sciences boom and major residential developments
- Liverpool, Aberdeen and Swansea trail at foot of rankings
In the latest quarterly ranking of economic momentum across 20 UK cities, the biggest upward mover was Edinburgh which rose 10 places. The EvaluateLocate Key Cities Tracker index rates the cities on the basis of 96 economic and demographic metrics which are grouped around business density; labour market conditions; average residential values; and population movements.
As the UK economy undergoes a gradual recovery, Edinburgh’s index change of -6.6% moved it up to eighth place in the rankings as its economic momentum improved.
Greater London continues to be the top ranked city across the past 12 months with an index change of
-3.6% followed by Oxford (-5.2%) and Cambridge (-5.8%). The proliferation of the life science sector and major residential development around both university cities are underpinning this performance.
In contrast, Liverpool, Aberdeen and Swansea occupy the bottom three places in the rankings
Adam Kirby of EvaluateLocate comments: “The changes in the rankings of these key cities reflects the ‘stop-go’ nature of the UK economy which has prevailed since 2020.
“However, the decline in economic vitality which started during the pandemic and was exacerbated by the cost-of-living crisis is now slowing. Key localised economies are showing their inherent resilience and gathering more momentum as they edge back towards positive growth.”