London's Economy Today - Issue 126 - February 2013

The overview

• UK government debt downgraded by Moody’s to AA1
• Eurozone remains in recession
• inflation constant as the Bank of England publishes their new Inflation Report

Economic indicators

• London firms increased their output of goods and services in January 2013
• the PMI for new orders recorded 53.9 in January 2013 compared to 52.2 in December 2012
• annual house price inflation in London was -1.1% in Q4 2012, down from a downwardly-revised 3.3% in Q3 2012

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