London's Economy Today - Issue 171 - November 2016

The overview

• Chancellor focuses on productivity growth as borrowing forecasts pushed upwards
• Inflation drops slightly in October but likely to rise next year
• Continued growth in London’s economy but with signs of moderation

Economic indicators

• London’s business activity increases with the Purchasing Managers’ Index (PMI) of business activity recorded at 52.8 in October 2016, down from 54.3 in September 2016. An index above 50 indicates an increase in business activity from the previous month.
• New orders in London rising with the PMI for new orders recorded at 53.7 in October 2016 compared to 55.0 in September 2016. An index above 50 indicates an increase in new orders from the previous month.
• Surveyors report that house prices are decreasing in London with the RICS Residential Market Survey showing a net balance of -16 for London house prices over the three months to October 2016.

London’s Economy Today supplement: Economic Evidence Base for London

• The economic evidence base helps to inform and support strategy development for London.
• It outlines how London’s economy has developed over time, the forces acting upon it, and identifies the risks and issues facing London’s economy. As such, the work covers a number of areas including: trade and London’s international competitiveness; the spatial characteristics of London; commuting and transport; land use and housing; the risks to London’s economy; London’s environment; London's people and the labour market; and some of the socio-economic issues faced by London.

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