London's Economy Today - Issue 169 - September 2016

The overview

• Economic indicators pick-up but longer-term uncertainty remains.
• Japan’s government makes another historic move.
• The world economic environment shows a mixed picture despite continued growth.

Economic indicators

• London’s business activity increases with the Purchasing Managers’ Index (PMI) of business activity recorded at 52.5 in August 2016, up from 44.4 in July 2016.
• New orders in London rising with the PMI for new orders recorded at 53.5 in August 2016 compared to 44.7 in July 2016
• Surveyors report that house prices are decreasing in London with the RICS Residential Market Survey showing a net balance of -30 for London house prices over the three months to August 2016.

London’s Economy Today supplement: Estimating the value of service exports from London: 2011 to 2014

• In 2014, London’s service exports totalled £92 billion.
• The Financial services; Real estate; Professional, scientific and technical; and Information and communications categories accounted for almost 60 per cent of London’s total service exports in 2014.
• Service exports represented over three quarters of London’s total exports (estimated at £120.8 billion) and more than three times the value of London’s goods exports in 2014.