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BOURNEMOUTH will see its economy plunge down a league table of “cities” ranked by economic growth, a report has found. The town was in the top five for economic growth at the end of 2020 but is set to be near the bottom of a league table of 50 at the end of this year. The news comes in the UK Powerhouse report by law firm Irwin Mitchell and the Centre for Economic and Business Research (Cebr). Southampton was the best performing city in the south, starting in the bottom five for economic output at the end of 2020 and expected to rise to 11th place by the end of this year – but with a 1.7 per cent fall in employment, one of the worst in the country.
THE rise in staycations over the summer meant Brighton was able to withstand a severe blow to its economy, compared with other places. According to a new report by Irwin Mitchell and the Centre for Economic and Business Research (Cebr), Brighton and Hove saw the third smallest annual contraction in economic output of the 46 UK Powerhouse cities in the third quarter of this year. The city saw a 4.7 per cent decline in the employment rate over the same period and the value of goods and services produced in the city (GVA) was down by 7.4 per cent. Other places saw a stronger contraction, such as Doncaster, where GVA was down by 11.7 per cent, and Milton Keynes, where it was down by 11.8 per cent.