London Monitor | The July ‘ pingdemic ’ did not derail London economic expansion
Although the ‘ pingdemic ’ in July raised concerns about the UK economic recovery, the evidence is that activity has continued to expand, even if the biggest post lockdown gains are now behind us. Survey evidence suggests that business activity was robust in London during July. Although the pace of expansion slowed from June, according to the Purchasing Managers’ Index , London output growth remained strong by historical standards.
What you will learn:
- Among specific sectors, construction rebounded in Q2, with spending in London up 11% from Q1 and driven by new investments.
- The first signs of meaningful recovery have been seen in the
tourism sector, with hotel occupancy up 10 points to 41%. - Demand has continued to rise in the labour market, with Labour Force Survey data showing a quarterly rise of 0.2 points in London’s resident employment rate to 74.7% in Q2.
Tags:
Related Services

Post
Housing supply front and centre for policy makers
The passing of the previously delayed Housing Australia Future Fund (HAFF) means that all the Albanese government's announced housing policies are now in place. These policies represent a minimum funding pool of $5.5 billion stretching to the end of the decade, potentially lifting as high as $10 billion if all targets are met and excess fund returns achieved.
Find Out More
Post
BoJ will continue effective zero interest rate policy anyway in Japan
The Bank of Japan (BoJ) maintained the policy rates at its September meeting, following a tweak in its yield curve control policy in July. Although this decision was widely expected, the markets are starting to speculate policy changes within the coming quarters, especially after the BoJ governor's recent interview.
Find Out More