London's Economy Today - Issue 201 - May 2019

The overview

• UK growth picks up at the start of 2019
• Continued evidence of Brexit led uncertainty
• London house prices have been falling for over a year

Economic indicators

• TfL passenger journeys increased in the last period. A total of 296.3 million passenger journeys were registered between 3 May and 31 May 2019; 14.3 million more than the previous period accounting for odd days. 113.6 million of these journeys were Underground journeys and 182.7 million were bus journeys.
• Continued weakness in London business activity in April. Business activity at London private firms was less weak in April (49.6) than in March (47.8) but has been below 50.0 for four consecutive months. Index readings above 50.0 suggest a month-on-month increase in that variable, while readings below indicate a decrease.
• Consumer confidence remained almost neutral in London. The GfK index of consumer confidence reflects people’s views on their financial position and the general economy over the past year and in the next 12 months. A score above zero suggests positive opinions; a score below zero indicates negative sentiment. The consumer confidence index in London was slightly positive (1) in April, the same level as in March.

London’s Economy Today data on the Datastore

• The main economic indicators for London are available to download from the Datastore.