London's Economy Today - Issue 226 - June 2021

The overview

• Lockdown easing in England delayed
• London’s labour market lags the UK’s
• Concerns about rising global inflation

Economic indicators

• Passenger journeys on London public transport recover gradually from a low base with 106.7 million passenger journeys registered between 1 April and 1 May 2021, 8.7 million journeys more than in the previous period (7– 31 March). This is during the continued easing of the third lockdown.
• The PMI new business index in London steadied at 61.3 in May compared with 61.5 in April. The four months from February onwards are the first time there has been positive sentiment since September. The index is nearly at its highest level for six years. An index reading above 50.0 indicates an increase in new orders on average across firms from the previous month.
• In May, expectations for house prices for the next three months remained positive according to surveyors. The net balance of house prices expectations was 36 in May in London, up on the figure for April of 29. The net balance index measures the proportion of property surveyors reporting a rise in prices minus those reporting a decline.

London’s Economy Today data on the Datastore

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