London's Economy Today - Issue 69 - May 2008

The overview

• economic tough times with inflation rising while growth slows
• The UK economy is weakening
• Federal Reserve cuts interest rates again

Economic indicators

• London firms continued to expand their output of goods and services in April 2008
• the PMI of business activity recorded 52.9 in April compared to 52.6 in March
• annual house price inflation in London was 5.6% in Q1 2008, down from 12.8% in Q4 2007

Credit crunch and the property market

• comparison with other downturns
• property market outlook
• policy implications

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