London's Economy Today - Issue 156 - August 2015

The overview

• Bank of England uprates its forecasts for growth
• Worries over the Chinese economy cause global stock market turbulence
• Eurozone grows in the second quarter of 2015

Economic indicators

• Annual house price infl ation in the UK was 9.3% in Q2 2015, up from an upwardly revised 8.2% in Q1 2015.
• The Purchasing Managers’ Index (PMI) of business activity recorded 59.0 in July 2015, down from 60.0 in June 2015.
• July 2015 saw an increase in new orders for London firms.

LET supplement: London’s Central Activities Zone, Northern Isle of Dogs and their fringes

• The output of the Central Activities Zone, northern part of the Isle of Dogs and a 1km fringe around them stood at just over £179 billion in 2012 accounting for nearly 55 per cent of London’s output and just over 12 per cent of UK output.
• Employment in this combined area stood at 2.14 million in 2013 a rise of 14.3 per cent on 2009 and accounted for around 45 per cent of London’s employment.
• The top five sectors of employment in this combined area in 2013 were Professional, scientific and technical; Financial & insurance; Information & communication; Business administration and support services; and Accommodation & food services.