Economy of Manchester

Manchester was at the forefront of the Industrial Revolution in the 19th century, and was a leading centre for manufacturing and textiles industries. The city's economy is now largely service-based and, as of 2007, is the fastest growing in the UK, with inward investment second only to the capital. Manchester's State of the City Report identifies financial and professional services, life science industries, creative, cultural and media, manufacturing and communications as major activities. The city was ranked in 2010 as the second-best place to do business in the UK and the twelfth best in Europe.

A 2008 report by PriceWaterhouseCoopers showed that Manchester had the third largest city economy in the United Kingdom and the 74th largest in the world, with a GDP of $85bn. Manchester has the largest UK office market outside London with a quarterly average office uptake of approximately 230,000 square ft - more than the quarterly office uptake of Leeds, Liverpool and Newcastle combined and nearly 80,000 square feet more than the nearest rival Birmingham. The wider Greater Manchester region which Manchester is at the heart of represents over £42 billion of the UK GVA, the third largest of any English county and more than Wales or North East England.

Manchester is a focus for businesses which serve local, regional and international markets. It is the fifth-largest financial centre in the United Kingdom outside London with more than 96,300 people employed in banking, finance and insurance. The Co-operative Group, the world's largest consumer-owned business, is based in Manchester and is one of the city's biggest employers. Legal, accounting, management consultancy and other professional and technical services exist in Manchester.

Manchester is the commercial, educational and cultural focus for North West England, and in 2010 was ranked as the fourth biggest central retail area in the UK by sales. The city centre retail area contains shops from chain stores up to high-end boutiques such as Vivienne Westwood, Emporio Armani, DKNY, Harvey Nichols, Boodles, Chanel and Hermès.

Ответьте письменно на следующие вопросы по-русски или по-английски:

1). Why is Ivanovo sometimes called Russian Manchester?

2). What are the key sectors of Manchester economy today?

3). What is the amount of people employed banking, finance and insurance?

5. Письменно переведите на русский язык весь текст.