London's Economy Today - Issue 239 - July 2022

Key information

Publication type: General

Publication date: Thursday 28 July 2022

In June, the sentiment of London’s PMI new business activity index decreased again, but remained positive with the PMI new business index in London at 54.9 in June down slightly from 57.5 in May. An index reading above 50.0 indicates an increase in new orders on average across firms from the previous month.
In June, net expectations for house prices for the next three months remained positive, but worsened, according to surveyors with the net balance of house prices expectations in London at 4 in June, lower than the balance of 14 in May. The net balance index measures the proportion of property surveyors reporting a rise in prices minus those reporting a decline.
Consumer confidence in London remained negative in July with the consumer confidence index in London staying the same as last month at -23. 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 new State of London report by GLA City Intelligence brings together a wide range of outcome data relevant to the work of the Mayor and the London Assembly, which will also be of interest to other stakeholders in London.
The aim is to provide readers with a high-level summary of the latest trends in each topic area which include: Demography; The economy and labour market; Community participation and engagement; Crime and safety; The environment; Housing; Income, poverty and destitution; Transport and digital infrastructure; Young people and education.