London's Economy Today - Issue 90 - February 2010

The overview

• UK inflation breaches 3 per cent and sovereign debt default risk rises
• fears of Greece defaulting on its debt increases interest rates on Government bonds
• developed economies face a rocky recovery

Economic indicators

• London firms increased their output of goods and services in January 2010
• the PMI for new orders recorded 58.9 in January compared to 61.7 in December
• annual house price inflation in London was 1.5% in Q4 2009, up from -8.1% in Q3 2009

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