London's Economy Today - Issue 81 - May 2009

The overview

• further relaxation of global monetary policy to combat recession
• CPI inflation falls towards target
• some indicators suggest that the pace of UK output falls may be easing

Economic indicators

• London firms decreased their output of goods and services in April 2009
• the PMI of business activity recorded 46.9 in April compared to 43.7 in March
• annual house price inflation in London was -20.8% in Q1 2009

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