London's Economy Today - Issue 195 - November 2018

Date published: 
29 November 2018

The overview

  • UK growth improves a touch in Q3 2018 but risks to growth remain on the downside 
  • Uncertainty around Brexit withdrawal process brings volatility in financial markets
  • London’s labour market continues to show strength

Economic indicators

  • TfL passenger journeys increased by 33.1 million in the latest period.
  • London business activity weakens with business activity growth at London private firms at 51.5 in October, down from 54.3 in September. The Purchasing Managers’ Index (PMI) survey shows the monthly business trends at private sector firms; index readings above 50.0 suggest a month-on-month increase in activity on average across firms, while readings below indicate a decrease.
  • In October, most surveyors continued to have negative expectations for the next three months for house prices in London. The RICS index was -41 for this month, up from -46 in September. London remains the region with the most negative expectations for house prices.

London’s Economy Today supplement: London at night – An evidence base for a 24-hour city

  • This work brings together a range of research and data on London at night.  It reveals that, between 6pm and 6am, the city is buzzing with social, cultural and economic activity. 
  • A third of everyone working in London works at night – that is 1.6 million people.
  • Two thirds – 65 per cent – of Londoners are regularly active at night. People do lots of different things, like personal errands, socialising, and enjoying cultural facilities.
  • Cost is the main barrier to enjoying culture and leisure activities at night. This is the case across all income groups of Londoners. Over a third of Londoners say it is too expensive to go out at night.

London’s Economy Today data on the Datastore

  • The main economic indicators for London are available to download from the Datastore.