How did London get away with it?

Despite predictions London would fare worse than the rest of the US in the wake of the crisis due to the city's reliance on the financial services industry, it has generally outperformed the rest of the regions.

It was widely expected that London would be the most severely hit of the UK regions in the recession brought about by the 2007-08 financial crisis. London was more reliant on financial services, it was argued, and because financial services were most directly affected, incomes and employment were expected to fall harder than in other cities. But this has not turned out to be the case.

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