London's Economy Today - Issue 89 - January 2010

The overview

• UK finally crawls out of recession with extremely weak growth but inflation jumps higher
• retail sector faces a difficult start to 2010
• UK inflation rises sharply and is expected to spike higher over the next few months

Economic indicators

• London firms increased their output of goods and services in December 2009
• the PMI for new orders recorded 61.7 in December compared to 59.5 in November
• annual house price inflation in London was 7.0% in Q4 2009, up from -1.9% in Q3 2009

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