London's Economy Today - Issue 119 - July 2012

The overview

• UK economy contracts in Q2 2012
• The Bank of England launches a further wave of quantitative easing
• The Eurozone crisis is dampening global growth

Economic indicators

• London firms increased their output of goods and services in June 2012
• the PMI for new orders recorded 51.5 in June 2012 compared to 54.1 in May 2012
• annual house price inflation in London was 1.2% in Q2 2012, down from 2.3% in Q1 2012

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