Manchester Economy| MIDAS

Latest News

NEWS 16th January 2017

World’s lightest mechanical watch revealed thanks to graphene

An ultralight high-performance mechanical watch made with graphene is unveiled today in Geneva at the Salon International De La Haute Horlogerie thanks to a unique collaboration. The University of Manchester has collaborated with watchmaking brand Richard Mille and McLaren F1 to create world’s lightest mechanical chronograph by pairing leading graphene research with precision engineering. The…

What people are saying

“Manchester has a real pull for businesses to come and set up here.”
David Emery
IBM Vice President for General Business North

Economic Overview

RBS building in Spinningfields

The ten local authorities of Greater Manchester – Bolton, Bury, Manchester, Oldham, Rochdale, Salford, Stockport, Tameside, Trafford, and Wigan – represent the largest functional economic area outside London, with a population of 2.7 million and gross value added (GVA) of £56 billion.

Greater Manchester’s Major Sectors

Financial & Professional Services 16.6%
Manufacturing & Engineering 16.1%
Health 13.0%
Retail 10.3%
Education 8.5%
Creative & Digital 7.7%

Source: ONS (2010) Annual Business Inquiry

In terms of employment concentrations against national averages, Manchester City Region has a comparative advantage in Aviation; Financial & Professional Services; Food & Drink; Core Manufacturing; Higher Education; Logistics and Textiles. Compared to the rest of the country outside London and the South East, Manchester has advantages in Creative Industries; IT & Digital, whilst concentrations of employment in Financial & Professional Services demonstrate the truly national significance of Manchester in this sector.

Biotechnology and Energy are the most productive sectors in the Manchester area in terms of GVA per employment, with Environmental Technology; Manufacturing; Engineering and Food & Drink also having above average productivity.

Greater Manchester’s economic growth has been driven by the large-scale and rapid expansion of the service sector, particularly financial & professional services. This sector accounts for a sixth of employment, a fifth of GVA and businesses, and contributed 45% of all GVA growth across Greater Manchester between 1998 and 2008.

Forecasts are for private sector growth in Greater Manchester to outstrip growth for the UK as a whole, and for the public sector to suffer less of a contraction here than nationally.

For helpful reports and the latest data for the Greater Manchester economy see http://neweconomymanchester.com

Contact Us

Contact us online or call
+44 (0) 161 237 4470

Related content

NEWS 16th January 2017

World’s lightest mechanical watch revealed thanks to graphene

An ultralight high-performance mechanical watch made with graphene is unveiled today in Geneva at the Salon International De La Haute Horlogerie thanks to a unique collaboration. The University of Manchester has collaborated with watchmaking brand Richard Mille and McLaren F1 to create world’s lightest mechanical chronograph by pairing leading graphene research with precision engineering. The…

NEWS 12th January 2017

Manchester's Factory gets the go-ahead

Planning permission granted, funding confirmed, and operator announced The plans for Factory, the brand new flagship cultural venue for the North designed by world-leading architects Office for Metropolitan Architecture (OMA), have been granted planning approval by Manchester City Council today. The unique venue will be at the heart of the vibrant new creative-led St. John’s…

See Manchester