London's Economy Today - Issue 106 - June 2011

The overview

• threat of Greek default hits Eurozone and risk of contagion heightens
• IMF endorses Government’s defi cit reduction strategy
• Chancellor announces support for ring-fencing retail banking

Economic indicators

• London firms increased their output of goods and services in May 2011
• the PMI for new orders recorded 56.8 in May 2011 compared to 55.7 in April 2011
• the DCLG reported a fall in annual house price inflation in both London and the UK in Q1 2011

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