• The capital’s economy shrinks by 7.4% following lockdown but data for an earlier pre-pandemic period shows strong growth with a big uplift in production August, 2020

    A nowcast for London for the 12 months ended June 2020 on a rolling 4 quarter basis, published by the Economic Statistic Centre of Excellence (‘ESCoE’), has estimated that the capital’s economy contracted by 7.4%. This ranked the city last in the UK and suggests the capital’s economy has so far coped ‘poorer’ with the pandemic relative to the other eleven UK ‘regions’. Over the same period the East Midlands was ‘best’ with a fall of 4.5%, with London’s contraction the ‘worst’; the UK decline according to the Office for National Statistics (‘ONS’) figures was 5.3%. ESCoE is a partnership of research...