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London's economy set to grow at faster rate than New York's by 2030

A report has predicted that the City will help London to power ahead of New York as it grows faster than the Big Apple over the next 15 years. The UK capital will benefit more from growth in the global economy, according to forecasts from Oxford Economics. It says London's economy will grow by an average of 2.9% a year between now and 2030, ahead of New York's 2.6%. 'A global outlook gives an unrivalled opportunity for enjoying growth from wherever it comes,' Oxford Economics head of global cities research Richard Holt said. While New York will see a surge in consumer spending, Holt said London was one of the world's 'most flexible cities' where other sectors grow off the back of successes in banking and finance, of which London it is an international centre of activity.

 

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