The OE Normality Tracker indicates that London has continued to underperform relative to other European cities, but there have been some modest improvements in 2021.
Our forecast for GVA growth in London for 2021 remains at 5.0%, as the current lockdown measures continue to stifle activity, so only a partial recovery from the 9.4% drop last year.
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The analysis and forecasts in this report are part of the Oxford Economics Cities and Regions suite of forecasting services, which now covers 7,000 cities and regions across the world, providing regularly updated data, forecasts and analysis for each location. Forecasts are produced in conjunction with the Oxford Economics Global Economic Model (GEM). This ensures that developments in the global economy have a direct influence on the outlook for city and regional economies.