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Finance Shrinks, IT Booms in London’s Multi-Speed Economy

London’s economy is a fifth bigger than it was in 2012 but not every sector has shared in the boom.

Andrew Atkinson

(Bloomberg) --

London’s economy is a fifth bigger than it was in 2012 but not every sector has shared in the boom. No industry has done worse than financial services, which shrank by almost 12% over the past two years, according to quarterly regional GDP estimates published for the first time. By contrast, areas such as telecommunications and information technology are generating more than ever.

©2019 Bloomberg L.P.

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