Derby Tops UK City Table

Derby had the third fastest growing city economy in the UK across Q3 2017, according to The UK Powerhouse study, produced by Irwin Mitchell and the Centre for Economics and Business Research (Cebr).

The report revealed a growth of 1.9% GVA, positioning Derby behind only Cambridge and Aberdeen nationally as the strongest economy in the midlands.

Managing Director of Marketing Derby John Forkin commented: "Being home to a high tech and advanced manufacturing-based economy has really helped the city climb to the top of this table.

"We are careful not to take any single ranking too seriously, but Derby is always there, or thereabouts, in any city economic ranking"

Manufacturers in the UK have been enjoying increased competitiveness on the global market thanks in part to the weak pound. As the global headquarters for Rolls-Royce and UK headquarters for Bombardier Transportation and Toyota Motor Manufacturing UK, Derby's economic strength and resilience has been further bolstered by this depreciation. The improvement in UK manufacturing prospects has also caused the city to experience annual growth in employment of 0.4% as its main employers continue to go from strength to strength.

Derby is forecasted to remain the highest-ranking city in the East Midlands throughout 2018.