London's Economy Today - Issue 117 - May 2012

The overview

• the increasing possibility of a disorderly Greek exit from the Eurozone is hitting the global economy
• UK inflation falls but is expected to remain above target until 2013
• the attractiveness of Canary Wharf continues

Economic indicators

• London firms increased their output of goods and services in April 2012
• the PMI for new orders recorded 54.4 in April 2012 compared to 57.1 in March 2012
• annual house price inflation in London was 3.3% in Q1 2012, down from 7.9% in Q4 2011

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