Exeter fourth largest growth rate in UK

Surely at this rate the Exeter area economy will become greatly overheated with an inevitable crash, especially as we are told that 70% of its exports currently go to the EU? Will East Devon, with Cranbrook’s creep towards the city just become a suburb of an ever-sprawling Greater Exeter but with no supporting infrastructure to speak of?

“Exeter is in the top five cities in the UK for job creation, new figures have revealed.

The UK Powerhouse report, produced by law firm Irwin Mitchell alongside the Centre for Business and Economic research, provides an estimate of the value of goods and services produced and annual job growth of 45 of the UK’s largest cities, 12 months ahead of the Government’s official figures.

Exeter sees an annual change of 1.5 per cent when it comes to employment, putting it as fourth in the UK.

It also revealed the growing importance that the banking, finance and insurance sector has on the city, revealing that 5,900 jobs were created between 2013 and 2016.

The report also predicts that Exeter’s city economy will grow by 18.1 per cent over the next 10 years whilst employment will grow by 9.4 per cent during the same period.

Jack Coy, economist at Cebr, said: “Despite the UK-level economic slowdown over the first quarter, it is good to see some bright sparks in local economies across the country.

“In particular, the best performing cities have benefitted from a combination of cutting-edge, productive industries and high-skilled workforces.”