London's Economy Today - Issue 123 - November 2012

The overview

• Eurozone re-enters recession
• US economy continues to grow but still faces a ‘fiscal cliff’
• UK inflation rises and the Bank of England forecasts a bumpy recovery

Economic indicators

• London firms decreased their output of goods and services in October 2012
• the PMI for new orders recorded 52.6 in October 2012 compared to 53.8 in September 2012
• annual house price inflation in London was 3.8% in Q3 2012, up from an upwardly revised 2.8% in Q2 2012

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