Future of the East Midlands economy
There will be a Westminster Hall debate on the future of the East Midlands economy on Tuesday 7th September at 9:30am
Regional planning and developmentEconomic situation
Briefing
Summary
Some key statistics on the East Midlands economy:
- GDP was £130 billion in 2019, accounting for 5.9% of UK GDP.
- GDP per capita was £26,852 in 2019, below the UK average of £32,876.
- Oxford Economics, a consultancy, forecasts economic growth of 8.2% in 2021 and 6.8% in 2022 for the East Midlands. This follows an estimated contraction of 9.8% in 2020. It is forecast to grow faster than the UK over this period (+7.4% in 2021 and +6.7% in 2022).
- Productivity in the East Midlands was 13% below the UK average in 2019 (measured using economic output per hour worked).
Further information on regional economic comparisons is provided in the Library briefing, Regional and National Economic Indicators.
Related items cited in this briefing
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