Six of the seven cities in the East Midlands included in PwC’s Good Growth for Cities Index are out-performing the UK average on income distribution, measured by the ratio of median to mean income, an indicator of wealth equity.
The Demos-PwC Good Growth for Cities Index ranks 51 of the UK’s largest cities (generally considered those with populations of at least 350,000 people), plus the London boroughs as a whole, based on the public’s assessment of 12 economic measures, including jobs, health, income, safety and skills, as well as work-life balance, housing, travel-to-work times, income equality, high street shops, environment and business startups.
Leicester maintained its position as the region’s highest ranking city (20th), despite slipping down slightly from 16th position in the previous index. Derby, Lincoln, Nottingham, Northampton and Peterborough have all seen an increase in overall rankings on the index, with Northampton achieving the biggest increase, moving from 42nd to 39th. The full East Midlands rankings are below:
- Leicester – 20th
- Peterborough – 22nd
- Derby – 23rd
- Lincoln – 24th
- Nottingham – 35th
- Northampton – 39th
The report states that the East Midlands is expected to see slightly slower economic growth compared to the UK average in both 2023 and 2024, with a predicted growth rate of 0.7% in 2024, and 1.6% in 2025. This compares to the UK average of 1.0% in 2024 and 1.7% in 2025.
Alex Hudson, East Midlands Market Senior Partner, PwC, said: “The outlook for the East Midlands is promising, with our cities generally performing well in this year’s analysis. Leicester has historically been a top performer in the index and it’s pleasing to see other cities including Derby and Nottingham move up the rankings this year. Equally, improvements on jobs, income distribution and environmental scores highlight sustainable growth in the East Midlands with more opportunities to come.
“That said, the report indicates that the East Midlands slightly lags behind the UK average in areas like income, house prices, and predicted economic growth. With the new East Midlands devolution deal, this should be seen as a roadmap for opportunity, identifying where ongoing support can significantly improve key public priorities.”
Across the East Midlands, improvements were made in jobs, income distribution and environment, and are either above or in line with the UK average for home ownership, transport and skills.
The highest priority for those living in the region is income, followed by safety and work life balance. Jobs, environment and income distribution are also top priorities, scoring above the UK average.
