London business activity increased in January
Business activity in London increased during the first month of the year, a report has found.
According to London Loves Business, the capital was one of nine UK regions to enjoy a prosperous January, the survey by Lloyds TSB showed, potentially giving hope for people looking for jobs in London.
John Maltby, group director of Lloyds TSB Commercial, said: “January’s survey shows that there was a solid improvement in private sector business conditions at the start of the year.”
The report comes at a time when economists are debating whether or not the UK can avoid slipping back into recession in 2012, with this study adding weight to the notion that the country will overcome this threat.
In its analysis of the the Lloyds TSB survey, Press Association noted that weaker input price pressures helped firms. This refers to the way energy prices and the cost of some raw materials has dropped.
The boosts for London and the South East signify a marked difference compared with the less impressive figures recorded towards the end of 2011.
Mr Maltby highlighted the importance of improvements in the global economy, pointing out that positive news overseas has the potential to encourage job creation in the UK.