The Economic Outlook for London

摘要

1. The global financial crisis, which began to unfold in mid-2007, has hit London's economy hard. But the labour market has shown considerable resilience and London's performance relative to other UK regions has been respectable.rn2. While the worst of the recession has passed, significant challenges and risks remain. The threat of tougher financial regulation cannot be entirely dismissed, while the origins of the crisis make London vulnerable to stiffer competition from emerging financial centres. And government cut backs will have a significant adverse impact on the capital's public sector.