London's Economy Today - Issue 105 - May 2011

The overview

• sovereign debt crisis in the Eurozone worsens
• Bank of England forecasts even higher inflation
• retail sector received a boost in April which is not expected to last

Economic indicators

• London firms increased their output of goods and services in April 2011
• the PMI for new orders recorded 55.7 in April 2011 compared to 56.5 in March 2011
• annual house price infl ation in London was -5.7% in Q1 2011, down from -2.6% in Q4 2010

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