Nottingham has seen the biggest drop in its economic vitality rating compared to other UK cities, new research has revealed today.
The city has experienced a 10% decline in its Economic Vitality Index (EVI), putting it in last position in the latest Evaluate|Locate Key Cities Tracker.
Manchester was the second worst-performing city with a -9.6% decline, followed by Aberdeen and Swansea which both fell by -8.4%.
According to the data, Belfast and Glasgow economies proved to be the most resilient with a decline of only -3.6%.
The Tracker shows that the decline in economic vitality across 20 UK cities is now accelerating.
'This is a sombre picture for jobs and prosperity as we head into the final quarter of the year,' said Adam Kirby, head of data & insights at Evaluate|Locate. 'The speed with which economic vitality is declining across these 20 cities is clearly accelerating. And that’s even before we see the impact of the markets turmoil that followed the recent Budget and interest rate rises.
'Within that trend, economic vitality also continues to diverge across different UK locations. This latest analysis underlines that not all micro-economies are impacted to the same extent by the current stress of the domestic and international situation.'
