Research Briefing | Jan 7, 2022

The London economy was growing strongly when Omicron hit

Frame-London-monitor-The-London-economy-was-growing-strongly-when-Omicron-hit

The latest data point to a strong recovery underway in London in Q4 2021. But this pace of expansion will have been hit by the Omicron Covid-19 variant, even if only temporarily.

What you will learn:

  • The government implemented some limited restrictions, some activity will have been restrained as people reduced close-contact activities, and many employers have suffered from staff shortages due to isolations.
  • As fuller evidence emerges we will consider the implications for our forecasts, which currently show a 2022 GVA rise of 5.0% for Greater London, following 5.6% in 2021.
  • Workplace based jobs are forecast to grow by 2.1% this year.
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