- Liverpool, Birmingham and Edinburgh expected to grow more quickly than Manchester
- Report reveals contrast in growth between performance of economies in Greater Manchester and city centre
Manchester’s economy will return to growth in the final three months of 2023 but at a slower rate than Liverpool and other large cities including Birmingham and Edinburgh, according to a new Irwin Mitchell report.
The Irwin Mitchell City Tracker has been produced by the Centre for Economics and Business Research (Cebr) and examines 50 locations across the UK, forecasting future growth in terms of GVA* and employment.
The report, which estimates that the UK entered into a recession in the second half of 2022, expects economic growth to resume in the second half of 2023.
Its analysis of Manchester’s economy reveals a contrast between its city centre’s economy and that of Greater Manchester. It estimates in the fourth quarter of 2022, GVA in Greater Manchester fell by 0.2%, whilst the centre was more resilient, seeing 0.7% year-on-year growth.