According to the survey, carried out by Lloyds Bank London purchasing managers’ index (PMI), participant results show:
· 21% of London businesses hired additional staff in September
· 40% of London companies saw additional new orders placed in October
· London business employment growth has hit a 13-year high – the highest since 1997
Ian Patterson, Area Director of Central London-based SME Banking said: “London’s private sector economy started the fourth quarter on a solid footing, recording the second-strongest rise in output in the near 17-year survey history.
“Activity was supported by a marked rise in new business, which accelerated further to a new record rate. It is good to see that the expansion in output is also driving the creation of jobs, with employment rising in October at the strongest rate since late-2000.”