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0 Manchester’s economy appears to be holding steady despite ongoing national and global uncertainty. While growth has slowed compared with the post-pandemic rebound, the city has shown resilience thanks to its economy and strong regional demand.
Professional services continue to grow
Professional services, businesses and financial firms continue to expand across the city centre and surrounding areas such as Salford and Trafford. Manchester’s reputation as a northern business hub has helped it attract investment and skilled workers, supporting employment levels even as some industries face pressure. According to some reports, the city is booming.
Construction and regeneration also play an important role
Major infrastructure and housing projects are still progressing, helping to sustain jobs. Although higher interest rates have cooled parts of the property market, long-term regeneration plans mean activity has not stalled completely.
The retail and hospitality sectors face more mixed conditions
Consumer spending is cautious due to high living costs, but footfall in central Manchester has remained consistent. This is supported by tourism, events and a student population. This has helped prevent sharper downturns seen in so_me other cities. Reputable business accountants Bristol such as hazlewoods.co.uk/expertise/business-accountants/bristol/ look after small to larger size enterprises and they are available to speak to.
Manchester’s large student population fuels demand for housing
This demand also extends to transport and leisure. Universities also contribute through research and innovation, particularly in technology, healthcare and manufacturing. Challenges remain though. Rising business costs, skills shortages and uncertainty over future interest rates continue. However, the city’s economic diversity and investment provide a buffer against sharper shocks.
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