London's Economy Today - Issue 115 - March 2012

The overview

• OBR forecasts modest growth in 2012 as the Budget announces few surprises
• ECB injects funding to aid banks hit by the Eurozone crisis
• Some optimistic signs emerging but the situation in the UK economy still remains finely balanced

Economic indicators

• London firms increased their output of goods and services in February 2012
• the PMI for new orders recorded 53.5 in February 2012 compared to 56.6 in January 2012
• annual house price inflation in London increased to 3.8% in Q4 2011 from 2.3% in Q3 2011

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