Whilst the world was grappling with an unprecedented health crisis, it quickly became clear that the economic shocks caused by the pandemic would impact global markets and would have long term implications on the south London economy, its businesses and its residents.
In response to the increasing economic uncertainty, SLP boroughs commissioned Oxford Economics to conduct a piece of research on the south London economy to better understand how south London could be impacted by these economic shocks and, to highlight opportunities for collaborative action to mitigate against any potential risks.
Report findings include:
- Before the pandemic, the south London economy was typically less productive than London as a whole, explained by sectoral composition and underperformance within sectors
- There is the potential of up to 32,000 job losses between March 2020 and December 2021
- A predicted 12% decline in GVA (2020) in south London, a sharper fall than both London (-10.4%) and the national economy (-11.4%)
- The south London economy will recover but not until 2023
The SLP download the full report here: The Future of the South London Economy Post-Covid
We also produce a monthly review of the south London Economy, Economic Insights which can be found here