The view from Bankside

25th Oct, 2013

2013-10-22 18.02.11

The big event at Trajectory this week was the party to celebrate our fifth birthday. Thanks to all of you who joined us for a terrific evening at the Bankside gallery. It was great to see so many clients, potential clients, suppliers, associates and friends there. The evening was tremendously upbeat for us, and for many of the clients, who were reporting signs of benefitting from the generally more positive economic news. As I write we have just heard that the UK economy grew by 0.8% in the last quarter, the highest rate of economic growth for three years.
At the risk of putting a dampener on your weekend, it also seems right to highlight the accompanying news about the totally uneven nature of that recovery. Forecasts published by Experian today suggest that average rate of economic growth in Greater London in the next five years will be 2.7%, compared to a more modest 1.6% in both Northern Ireland and Wales. But it is the local disparities that seem even more stark, with predictions of a 3% average growth rate from 2014 to 2019 for the< likes of Kensington & Chelsea, compared to a tiny 0.3% for the likes of Richmondshire in North Yorkshire (represented in parliament by The Foreign Secretary, William Hague).
These and other issues about the likely shape, nature and impact of any recovery are the topic for our next trends breakfast on Thursday next week. Sadly, it seems that bright view from Bankside is a far from universal one. Understanding this will be the key issue for our UK clients in 2014.