The data is likely to deepen concerns about the widening gulf between the capital’s “bubble” economy and the rest of the country. Between 2007 and 2011, London’s economy grew by 12.4pc, despite the painful impact of the financial crisis on the City.
That rate compared to growth elsewhere which ranged between 2.3pc in the East Midlands to 6.8pc in the South West, the Office for National Statistics (ONS) said. The South East, boosted by proximity to London, was close behind at 6.4pc.
The British economy is largely explained by it being mostly middle ranking, middle performance, northern European with a giant bolus of the outperforming global economy in the middle, in London.
That\’s just what it is. Shrug.