London's Economy Today - Issue 80 - April 2009

The overview

• UK economy in deep recession
• budget forecasts huge increases in public sector borrowing
• UK RPI inflation turns negative

Economic indicators

• London firms decreased their output of goods and services in March 2009
• the PMI for new orders recorded 43.0 in March compared to 43.9 in February
• annual house price inflation in London was -18.2% in Q1 2009, down from -15.1% in Q4 2008

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