London Monitor | London continues to recover but the path just got a bit rockier
We have lowered our Greater London GDP forecast to 5.4% in 2022 after 5.7% in 2021. Inner London sees 5.5% growth in both years. This reflects the fact that while the capital’s economy does continue to expand, the evidence is somewhat mixed, and there are also some external reasons for caution.
What you will learn:
- For business trends, the latest data relate to October. The IHS Markit PMI survey looked strong overall, but within that, output expectations eased a little, reflecting a decline in work outstanding.
- In the financial sector , business lending and consumer credit both grew in October, but the number of trades on the London Stock Exchange declined, and so did trade values.
- Meanwhile, hotel occupancy and airport passenger numbers rose in London, in September and October respectively.
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