London's Economy Today - Issue 147 - November 2014

The overview

• inflation outlook eases the pressure for imminent interest rate rise
• forecasts from the OECD echoes a weaker global economic outlook in 2015
• despite a disappointing international outlook London’s economy goes from strength to strength

Economic indicators

• firms in London increased their output of goods and services in October 2014
• the PMI for new orders recorded 59.3 in October 2014 compared to 59.4 in September 2014
• surveyors report that house prices are decreasing in London but rising in England and Wales

Ten years of the GLA's London Living Wage

• On 3rd November the Mayor of London announced the 2014 London Living Wage of £9.15 per hour
• The 2014 out-of-London Living Wage was also announced, at £7.85 (up by 2.6 per cent).
• Looking back over the ten years that the GLA has been calculating the LLW reveals that it has comfortably outstripped the UK Consumer Prices Index (CPI)

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