Resurgent Aberdeen ends year second in UK cities growth table
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Aberdeen has been ranked second for growth among UK cities in a new report that appears to provide further evidence that the Granite City is firmly on the road to recovery.
The UK’s oil and gas capital was named as one of the UK’s best performing city economies across the third quarter of 2017 in the UK Powerhouse study produced by Irwin Mitchell and the Centre for Economics and Business Research.
The findings, which underline the recovery of Aberdeen from the downturn sparked by the collapse in oil prices, give an estimate of gross value added (GVA) growth and job creation for 45 of the UK’s largest cities in the third quarter of last year.
According to the latest report, Aberdeen was second only to Cambridge in terms of GVA growth in Q3 2017, recording a rate of 2 per cent in the period. It was an improvement on the Granite City’s eighth place ranking in Q2.
Glasgow and Edinburgh, meanwhile, saw growth of 1.5 per cent and 1.1 per cent in the quarter respectively.
Irwin Mitchell Scotland partner Mark Higgins said: “After taking a hit in recent years due to the falling price of oil, this latest report shows that Aberdeen is well and truly on the road to bouncing back.”
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