Key information
Publication type: General
Publication date:
Contents
The overview
- Official figures continue to show that there is a recovery taking place in the UK and that recession has been avoided.
- There are, however, still some downside risks, around the international situation, domestic consumer confidence and business investment.
- The London economy continues to be affected by stock market weakness and profit warnings.
Economic indicators
- Airport traffic seems to have recovered entirely from 11 September 2001.
- Retail sales were 8.1 per cent higher in October than the previous month and 5.6 per cent higher than last October.
- Office availability in London continued its recent upward trend in Q2 of 2002.
The risk of recession in London
- The UK economy is showing signs of recovery. However there are downside risks.
- The uncertainty in world equity markets, weak UK business investment and a rise in office space availability in London present risks to the sustainability of a recovery.
- Consumer spending is the main uncertainty. However, the risk of a recession in London remains relatively low.
London’s Economy Today data on the Datastore
- London’s Economy Today on the Datastore has more interaction and a greater personal focus.
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Related documents
London's Economy Today - Issue 4 - December 2002