London's Economy Today - Issue 146 - October 2015

The overview

• UK GDP continues to grow but at a slightly slower pace
• IMF again downgrades its forecast for global economic growth
• oil price falls as worries about the global economy gather

Economic indicators

• firms in London increased their output of goods and services in September 2014 (with a PMI of 56.9 in September 2014, down from 58.7 in August 2014)
• New orders in London rising (with a PMI for new orders recorded 59.4 in September 2014 compared to 58.1 in August 2014)
• surveyors expect house prices to fall in London but to rise in England and Wales

Growing Together II: London and the UK Economy

• London’s economy has been shaped by an increasingly connected and integrated international economy through globalisation
• the impact of globalisation on the structure of the UK economy has been to cause a shift away from manufacturing of goods to the provision of many professional business services
• to a great extent, London is competing with the rest of the world rather than the rest of the UK.

London’s Economy Today data on the Datastore

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