London's Economy Today

LET Issue 146 October 2014

The Overview

  • UK GDP continues to grow but at a slightly slower pace
  • No end in sight for the Eurozone’s problems
  • London’s economy continues to grow but will face challenges in the coming year

Economic indicators

  • New orders in London rising
  • Surveyors report that house prices are decreasing in London but rising in England and Wales
  • Consumer confidence remains positive in London but turns negative in the UK

Growing together II: London and the UK economy – supplement

  • London’s success is positive for the UK as a whole.
  • Constraining London’s growth (through reduced infrastructure expenditure for example) will reduce UK growth and threatens London’s international competitiveness – most likely benefiting other countries (not the rest of the UK).
  • Attempts to ‘share out’ London’s business activities across the UK, by whatever means, would most likely lead to businesses losing the benefits of locating in London; as a result they’d likely relocate to another international city – not the rest of the UK.

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