London Chamber of Commerce and Industry (LCCI) last week launched the Q3 2015 results of its London Quarterly Economic Survey with Capital 500. They surveyed 514 London business leaders between 18 August and 7 September this year.
The headlines of London’s performance in Q3:
- Domestic sales remain positive, unchanged from Q2;
- There has been an 8% increase in employment;
- There has been a decline in businesses looking to recruit, whilst the skills shortage continues to challenge those firms looking to grow;
- Businesses are experiencing increased cost pressures through the need to increase wages; and
- Business confidence is down, with just 33% expecting their companies’ prospects to improve over the next 12 months.
The message: a notable downscaling of expectations.
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