London’s Economy Today editorial – January 2025 January 30th, 2025 by Daryl Rozario, Ali Ögcem, Gordon Douglass and Sixia Zhang UK inflation slows marginally in December Consumer Price Index (CPI) inflation slowed in December, according to new data from the Office for National Statistics (ONS). CPI inflation rose by 2.5% in the 12 months to December 2024, down from 2.6% in the 12 months to November (Figure 1). Figure 1: This drop in inflation had…
London’s Economy Today editorial – October 2024 October 31st, 2024 by Daryl Rozario, Ali Ögcem, Gordon Douglass, and Sixia Zhang UK economy grows in September After seeing two months of zero growth in both June and July, data from the Office for National Statistics (ONS), published this month, showed that the economy grew by 0.2% in August (Figure 1). Figure 1: The ONS estimates that all sectors of the UK economy grew in August. Output…
London’s Economy Today editorial – February 2024 February 29th, 2024 by Daryl Rozario, Gordon Douglass, Mike Hope and Sixia Zhang UK enters recession at the end of 2023 Data published by the Office for National Statistics (ONS) in mid-February showed that the UK had entered a recession in the second half of 2023. After contracting by 0.1% in Q3 2023 GDP fell by a further 0.3% in Q4 2023 (Figure 1). A contraction of GDP…
Revenue centralisation and economic growth in London: a counterfactual analysis February 28th, 2024 by Adam Yousef Compared to other OECD countries, the UK remains one of the most fiscally centralised countries. Data from the OECD’s Revenue Statistics publications shows that in recent years no more than 6% of the UK’s total tax revenue has been raised locally, compared to just under 11% for the OECD on average. Studies of the impact…
London’s Economy Today – editorial September 2023 September 28th, 2023 by Daryl Rozario, Gordon Douglass, Mike Hope UK GDP falls in July Data published by the Office for National Statistics (ONS) this month showed that the UK economy contracted by 0.5% between June and July (Figure 1). Although a drop had been expected this was more than most economists had been predicting. Despite this monthly drop output was 0.2% higher in the…
