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.
BoK’s monetary policy to tighten even as hiking cycle ends
Even without rate hikes, central banks' monetary policies can effectively tighten if the nominal neutral rate falls below the policy rate. We expect this will be the case for the Bank of Korea this year, as the gap between the policy rate and the nominal neutral rate widens.Find Out More
China: Emerging green shoots in Spring, but not out of the woods
We now incorporate a faster recovery from the post-Covid exit wave and raise our 2023 full-year GDP growth forecast to 4.5% (from 4.2% previously).Find Out More