Portsmouth to get an economic boost – thanks to Southampton’s success

A view of the Spinnaker Tower in Portsmouth
A view of the Spinnaker Tower in Portsmouth
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PORTSMOUTH is set to receive an economic boost thanks to neighbouring Southampton performing so well in the first three months of 2018, according to a new report. 

The UK Powerhouse study, produced by Irwin Mitchell and the Centre for Economics and Business Research, estimates GVA growth and job creation within 46 UK cities. 

The latest report found that Southampton’s GVA growth of 2.4 per cent in Q1 made it the sixth best-performing city economy in the UK, with Portsmouth and Bournemouth also recording growth of 2 per cent and 1.7 per cent respectively.

In addition, Southampton’s workforce grew by 1.9 per cent to reach 160,800.

Hannah Clipston, from Irwin Mitchell, said: ‘While Southampton may be leading the way, there is plenty of evidence that Bournemouth and Portsmouth are also set to enjoy strong levels of growth in the coming months.’