Research Briefing | Dec 7, 2021

London Monitor | London continues to recover. But the path just got a bit rockier.

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.
Back to Resource Hub

Related Services

Post

Slowdown in 2023, except for Chinese cities

Growth across advanced Asia Pacific cities is slowing down in 2022's second half, and their full-year growth rates will trend downwards in 2023. In emerging Asian cities, we expect an uptick in growth in 2022, followed by a marked weakening in 2023.

Find Out More

Post

European cities face a tough winter as recession spreads

Strong annual GDP growth figures for most major European cities do not tell the whole story in 2022 as the economic environment across Europe has continued to deteriorate in the second half of this year. We expect technical recessions across most major European cities in H2 2022 and into Q1 2023.

Find Out More