London's Economy Today - Issue 199 - March 2019

The overview

• Brexit delayed
• OBR produces subdued forecasts for UK economic growth
• London remains in second place in the Global Financial Centres Index

Economic indicators

• There was a total of 278.0 million TfL passenger journeys between 6th January and 2nd February, an increase of 41.2 million during the last period after the usual fall at Christmas. Both Underground and Bus journeys were higher - by 14.8 million and 26.4 million, respectively - 106.7 million of the total journeys were Underground journeys and 171.3 million were bus journeys.
• New business in London is likely to have declined in February. The PMI New Business Index was 47.1 in London in February. An index reading above 50.0 indicates an increase in new orders from the previous month, while a reading below 50.0 indicates a decline in new orders on average across firms.
• A majority of surveyors in London expect house prices to fall further. The RICS index was -52 in February, down from -44 in January. Expectations have been negative since August 2016 and London remains the region with the most negative expectations for house prices.

London’s Economy Today data on the Datastore

• The main economic indicators for London are available to download from the Datastore.