London's Economy Today - Issue 149 - January 2015

The overview

• UK GDP growth slows in Q4 2014 but over the whole year grows at its fastest pace since 2007
• Inflation falls to 0.5 per cent in the UK
• Eurozone falls into deflation whilst the ECB launches a large QE programme

Economic indicators

• London’s annual employment growth increased to 3.6% in Q2 2014 from a downwardly revised 3.0% in Q1 2014
• House prices, as measured by Nationwide, were higher in Q4 2014 than in Q4 2013 for London and the UK.
• The Purchasing Managers’ Index (PMI) of business activity recorded 56.7 in December 2014, down from 57.6 in November 2014.