Research Briefing | Jun 7, 2021

UK | London’s economy to grow

Copy of The outlook for the world’s leading urban economies amid the global slowdown (1)-1

London’s business activity continued to improve in April, according to the IHS Markit Purchasing Manager’s Index (PMI), and business confidence was very strong. Separate survey data from ICAEW painted a similar period.
The Oxford Economics Normality Tracker shows a continued return towards normality for London in April and the first half of May, although at a pace
behind the average European city.


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  • Spending in the construction industry fell in Q1 2021 compared to Q4 2020
  • The financial services sector saw a decline in equity market activity in April and also a fall in lending to companies, but offset by strong growth
  • On the labour market side, ONS data suggest that resident employment returned to growth in Q1
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