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Manchester’s economy grows 34% in a decade, outpacing UK average and rival cities

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The Centre for Cities report comes as Andy Burnham plans Number 10 for the North

Deansgate Square skyscrapers, Manchester

Deansgate Square skyscrapers, Manchester(Image: Sean Hansford | Manchester Evening News)

Manchester is outpacing the rest of the country following a decade of growth, according to new research.

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London-based think tank Centre for Cities found that Manchester’s economy grew more rapidly than anywhere else in the UK over the last ten years.

Figures revealed the city’s economy expanded by more than 34 per cent between 2013 and 2023, outstripping other ‘top performers’ such as Bristol, Leeds, and Newcastle.

London’s economy grew by nearly 19 per cent over the same period, compared to the UK average of 18.4 per cent across the decade.

The figures were measured by total gross value added (GVA) growth – the value of goods and services produced within the city.

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Manchester and the wider city region also recorded a 19.7 per cent rise in job creation, according to the report, surpassing the UK average of 13.9 per cent.

The findings come as significant new announcements by Andy Burnham could herald a dramatic shift in how the country is governed, with a pledge for a ‘No 10 in the North’, potentially based in Manchester, should he go on to become Prime Minister.

The Centre for Cities report stated: “There are encouraging signs, with places such as Leeds and Manchester seeing strong productivity growth in recent years, adding to a sense of growing momentum around their role in raising national living standards.”

The data also laid bare some of the challenges confronting the country’s regions. The report continued: “Currently Manchester, Birmingham and Leeds have the largest ‘density gaps’ compared to their international peers, with estimated shortfalls of 231,000, 202,000 and 196,000 homes in their urban cores respectively.

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‘”Other big cities face smaller gaps. Bristol, for example, has a shortfall of around 18,800 homes, though still faces constraints on expanding its urban form.

“Closing these gaps would require a significant increase in housebuilding, especially in the largest of the big cities. “

Manchester council said its strategy to drive employment growth is delivering results. Since implementing the plan, the employment rate in Manchester has climbed to more than 75 per cent – a 6.4 per cent rise since July 2023, the council noted.

This comes alongside a 30 per cent increase in the number of businesses in Manchester since 2015, with the total number of firms in the city growing by approximately 900 in 2024/25.

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Councillor Gavin White, the council’s housing and regeneration lead, commented: “Manchester has seen significant population growth in recent years, a testament to a global reputation and strong expansion across key sectors that have helped create tens of thousands of high-quality jobs in the last decade – helping to attract and retain a pool of world class talent.

“With this success comes high demand which is why we are helping to drive a strong supply of quality office space to support businesses to thrive and attract new global names to Manchester. While also creating a strong and diverse housing sector – including record numbers of social, council and genuinely affordable homes being built in every part of our city.

“But we also know that far too many households still face high levels of deprivation and it’s vital that we continue to convert economic growth into better living standards for our residents.

“It’s our vision to make sure that we can create pathways to great jobs, alongside investment in our communities and transport link, that makes sure that everyone living in Manchester has the opportunity to share in the city’s success.”

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Singapore vs Hong Kong vs Dubai: Regional HQ Trade-Offs for Investors

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Singapore vs Hong Kong vs Dubai: Regional HQ Trade-Offs for Investors

Global reforms emphasize control and decision-making authority over legal forms, shifting regional headquarters evaluation to governance, risk management, and value creation, impacted by tax rates and regulatory expectations.

Evolving Evaluation of Regional Headquarters

Global minimum tax, stricter substance enforcement, and geopolitical fragmentation have reshaped how regional headquarters are assessed. Singapore, Hong Kong, and Dubai now serve distinct roles, each aligned with different strategies for controlling operations and managing risks. They are no longer interchangeable hubs competing on similar benefits, but rather centers tailored to specific business models and regulatory environments.

Authority and Control Define a Headquarters

The focus has shifted from a legal entity’s structure to the authority it exercises within an organization. Regulators and counterparties increasingly scrutinize where key decisions—related to capital allocation, pricing, treasury, and risk management—are made. An entity exercising discretion in these areas is viewed as a true control center, influencing regulatory treatment and compliance risk instead of mere administrative support.

Governance and Control in Practice

Beyond reporting functions, the extent of authority impacts governance, documentation, and accountability standards. These factors determine a company’s regulatory exposure and defenses. While corporate tax rates like Singapore’s 17% and Hong Kong’s 16.5% are still relevant, emphasis now also rests on where value creation and control are evidenced within the organization.

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Amazon and Microsoft Delivered Major Earnings Wins

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Amazon and Microsoft Delivered Major Earnings Wins

Are you tired? I’m tired. In addition to four Big Tech companies reporting earnings this past week, the calendar included results for second-quarter gross domestic product and the June personal consumption expenditures price index, along with the Federal Reserve’s interest-rate decision. Unscheduled, there was a meltdown of the artificial-intelligence trade, as highly leveraged bull positions were liquidated. The iShares Semiconductor exchange-traded fund was down 12% across three days, and one of the most successful AI investors—hedge fund Situational Awareness—saw margin calls and forced sales.

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Exclusive | KKR Near Deal to Buy Integer Holdings

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Exclusive | KKR Near Deal to Buy Integer Holdings

Private-equity firm KKR KKR is near a deal to take medical-device outsourcing company Integer Holdings ITGR private, according to people familiar with the matter.

The details

The deal, which could come as soon as next week, would value the Plano, Texas-based company at roughly $127 a share, the people said. There are no guarantees a deal will come together.

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Exclusive-Japan to announce Tokyo, Washington took joint action on yen, sources say

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Exclusive-Japan to announce Tokyo, Washington took joint action on yen, sources say

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Apple Slump Drags on Tech Stocks

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Stocks Fall After Trump Picks Kevin Warsh as Next Fed Chair

A 9% selloff in Apple stock hasn’t done much to slow down the Nasdaq today.

Apple was recently down about $470 billion in market capitalization, on pace for its largest one-day market cap decline on record and the second-largest of any U.S. company. If it holds, the decline will be Apple’s biggest since 2020.

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Siltronic AG ADR 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:SLTCY) 2026-08-01

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Israeli strikes kill at least four in Gaza despite Trump announcing breakthrough

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Israeli strikes kill at least four in Gaza despite Trump announcing breakthrough

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Three dead in Idaho shopping center shooting

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Three dead in Idaho shopping center shooting

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Retail Earnings Season Could Be the Messiest Yet

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Retail Earnings Season Could Be the Messiest Yet

Retailers’ second-quarter earnings season is poised to begin in mid-August, and it may look a bit like a sandcastle being reclaimed by the sea: lumpy, all over the place, and with plenty of moving parts.

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Westinghouse IPO Could Be America’s Biggest Nuclear Offering Yet

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Westinghouse IPO Could Be America’s Biggest Nuclear Offering Yet

Westinghouse IPO Could Be America’s Biggest Nuclear Offering Yet

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