A sharp increase in City job cuts has pushed London to the brink of recession.
The Centre for Economics and Business Research estimated London's growth for this year had fallen from 0.7 per cent in August to 0.2 per cent.
Its forecast showed the last two quarters of the year were showing negative growth, technically a recession.
Because of the uncertainty about estimates for an individual quarter, it was realistic to describe London as on the verge of recession.
A cause of the decline had been a sharp increase in City job losses.
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