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…
London’s Economy Today editorial – July 2023 July 27th, 2023 by Daryl Rozario, Gordon Douglass, James Watson, Jasmine Farqharson Inflation eases, but households still under pressure For the first time in almost two years, June’s Consumer Price Index (CPI) inflation release offered some good news in that the actual figure was below what forecasters expected. The cost of living crisis is far from over though, and price increases are still extremely rapid, but the…
The impact of rising interest rates and financial turbulence on London’s economy June 20th, 2023 by Daryl Rozario, Gordon Douglass, Mike Hope, James Watson Higher interest rates and quantitative tightening are reversing the post-2008 global policy regime, with broad-ranging consequences. Massive pandemic policy stimulus combined with stretched supply chains to spark cost pressures around the world, which became a crisis when energy prices surged after Russia’s invasion of Ukraine. Central banks have responded to these inflationary pressures by sharply…
