London's Economic Outlook: Autumn 2020

GLA Economics’ 37th London forecast suggests that:

• London’s real Gross Value Added (GVA) growth rate is forecast to be -9.5% this year due to the present COVID-19 crisis. This growth rate is expected to rebound to 6.2% in 2021 and 6.9% in 2022.
• London is forecast to see a more modest fall in the number of workforce jobs in 2020 (-1.1% in annual terms) although this will accelerate in 2021 (-4.6%) before there is some recovery in 2022 (3.0%).
• Similarly, London’s household income and expenditure are both forecast to decrease notably in 2020 before starting to grow again in 2021 and 2022.
  

The data that sits behind the forecast is available to download from the London Datastore.