London leads Britain's economic comeback - Business - Evening Standard
       

London leads Britain's economic comeback

London is leading the British economy out of recession as the City bounces back from the worst financial crisis since the Great Depression.

The Centre for Economic and Business Research today said that the London economy will grow by 2.1% this year, 2.5% in 2011 and 2.7% in 2012 driven by the Square Mile and Canary Wharf.

This compares with nation-wide growth of just 1.2% in 2010, 1.3% in 2011 and 1.4% in 2012.

CEBR economist Benjamin Williamson said: "Growth in the City is picking up faster than elsewhere.

"The sectors that brought us into the recession are leading the charge out of it.

"We are seeing record profits in financial services and that makes up much of the London economy."

Comments

Don't Miss
Rock star: Erin Wasson

Rock star

Erin Wasson is the ultimate anti-supermodel
Maybe it’s because she’s a Londoner … Happy anniversary, Ma’am

Happy anniversary

The monarchy has become stronger and more respected in the past 60 years
Victoria Coren: My obsession with children, five proposals a week and why David and I are no power couple

Victoria Coren

David Mitchell and I are no power couple
The Royal Academy of Arts Summer Exhibition preview party

Summer party

Stars at the The Royal Academy of Arts
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
The Glamour Awards - stars turn on the style

Glamour Awards

Stars turn on the style
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party

Garden party

Duchess of Cambridge is pretty in pink
FIRST review of Ridley Scott's latest sci-fi blockbuster Prometheus

First review

Is Ridley Scott's Prometheus any good?
Fair-weather goths

Fair-weather goths

The sultry shades of summer darks are coming out of the shadows
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity