London's Economy Today - Issue 116 - April 2012

The overview

• preliminary estimate from the ONS that the UK economy continued to contract in Q1 2012
• high petrol prices weighing down on the economy
• Eurozone crisis turns to Spain

Economic indicators

• London firms increased their output of goods and services in March 2012
• the PMI for new orders recorded 57.1 in March 2012 compared to 53.5 in February 2012
• annual house price inflation in London was 2.3% in Q1 2012, down from 5.4% in Q4 2011

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