Report says London well placed to survive recession
In news that may interest those seeking property to rent in London, fresh research has concluded that the capital is one of the best equipped places in the UK to survive the effects of the economic contraction.
A report by the National Endowment for Science, Technology and the Arts (Nesta) has listed which parts of the country are the most suited in various ways to help them to withstand the downturn.
It placed London among the best regions for being connected, for knowledge sharing, for job creation and knowledge exploitation.
Chief executive of Nesta Jonathan Kestenbaum stated that: "This research is important because it demonstrates that no region, with the possible exception of London, will be able to withstand the economic crisis in isolation."
Figures from the Office for National Statistics have shown that in the third quarter of this year the UK economy contracted by 0.5 per cent.
Another quarter of negative growth will fulfil the technical definition of a recession.
Published 29th October, 2008
© 2008 Estates IT Limited
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In news that may interest those seeking property to rent in London, fresh research has concluded that the capital is one of the best equipped places in the UK to survive the effects of the economic contraction.