London's Economic Outlook: Spring 2021

GLA Economics’ 38th London forecast suggests that:

• London’s real Gross Value Added (GVA) growth rate is forecast to be 5.4% this year due to the recovery from the COVID-19 crisis. This growth rate is expected to increase slightly to 6.9% in 2022 before moderating to 3.1% in 2023.
• London is forecast to see a fall in the number of workforce jobs in 2021 (-3.6% in annual terms) although this will recover in 2022 (2.9%) before accelerating in 2023 (4.2%).
• Similarly to GVA, London’s household income and expenditure are both forecast to grow in all years of the forecast period.

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