London's Economy Today - Issue 59 - July 2007

The overview

• rising interest rates and oil prices just below record highs
• bank raises base rate to 5.75 per cent
• CPI inflation down in June – but RPI up due to increased mortgage payments

Economic indicators

• London firms continued to expand their output of goods and services in June 2007
• the PMI of business activity recorded 59.1 in June 2007 compared to 57.6 in May
• annual house price inflation increased in Q2 2007 in London and remained above 10% in the UK

London Economic Development Snapshot

The Snapshot aims to:

• identify and review London’s progress against the strategic priorities of the EDS
• provide a basis on which to review the priorities for London’s economic development
• act as a catalyst for directing economic development activities in London

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