London's Economy Today - Issue 120 - August 2012

The overview

• global economy remains sluggish
• UK inflation rose in July but downward trend expected during rest of year
• a slow pick-up for the UK economy in 2013

Economic indicators

• London firms increased their output of goods and services in July 2012
• the PMI for new orders recorded 54.2 in July 2012 compared to 51.5 in June 2012
• annual house price inflation in London was 2.4% in Q2 2012 down from 3.3% in Q1 2012

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