London's Economy Today - Issue 113 - January 2012

The overview

• slight fall in UK output in Q4 2011
• Inflation remains above target but is expected to keep falling during 2012
• sovereign debt downgraded in France and other Eurozone countries

Economic indicators

• London firms increased their output of goods and services in December 2011
• the PMI for new orders recorded 54.6 in December 2011 compared to 52.2 in November 2011
• annual house price inflation in London was 5.4% in Q4 2011, up from 0.5% in Q3 2011

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