London's Economy Today - Issue 29 - January 2005

The overview

• weaker retail sales over Christmas
• UK consumer sector steadying
• US dollar fell to all-time low against the Euro at end- 2004

Economic indicators

• London firms continued to expand their output of goods and services in December 2004
• the PMI of business activity recorded 59.8 in December 2004
• the RICS survey shows that in recent months most surveyors have reported lower house prices both in London and in England and Wales

London at work

Trends in London’s employee jobs:

• employee jobs fell by 25,000 during 2002/3
• the decline in business servise employee jobs has bottomed out
• fourteen London boroughs posted job gains during 2002/3
  

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