The biggest decline in the value of London’s stock market has been at the end of the year, but it is likely to remain a key part of the region’s future.
Data from the Office for National Statistics (ONS) shows that London has lost more than 1,000 jobs since May 2016, and there are signs that the trend is set to accelerate.
London’s share price has dropped by more than 50% over the past year, the ONS data shows.
However, there is a lot of uncertainty over how long that will last.
The city has become a hub for financial services and has long been a hub of tech firms.
On Wednesday, the London Stock Exchange (LSE) announced that the number of firms operating in the city rose by just 10 from April to May, a trend which could indicate a continued upturn in activity.
But the city has also seen the decline of more than 3,000 of the country’s biggest tech firms, such as Microsoft, Amazon, Netflix and Facebook.
A big chunk of these companies are based in London, and their stock prices have dropped by as much as a third since the start of the Brexit process.
“There’s a lot going on,” said Adam Clark, a senior economist at the Centre for Economic Performance at the University of Surrey.
The slowdown in tech activity could be down to the fact that the UK is already struggling with its ageing population.
In 2020, the UK’s population is set by far to shrink by more, to 2.5 million people, according to the Office on National Statistics.
That means the number on the street has grown by over a million since then.
“We have a lot more people in the UK than in the EU and the US combined, so the economy has got to do something to grow, and the tech sector has been quite active in helping,” said Clark.
If you have a concern about the economy, and you want to take action, you need to be able to take your business elsewhere, he added.
And this is what has happened in London.
At the end, May saw the biggest rise in tech firms operating there in the past five years, with more than 80% of them coming from London.
But many companies are still taking a cut of the revenue.
Many tech companies in the City of London are still struggling to recover from the shock of the referendum result.
It’s unclear how many of them will be able continue to do so, as companies have to meet financial obligations from the UK government.
That is because the UK Treasury has cut off its financial support to the sector.
Companies are also trying to find alternative places to relocate to.
One such company is Uber, which was valued at more than £6bn by its parent company, Uber Technologies.
The ride-hailing firm has announced plans to move its headquarters to Frankfurt, Germany, and has a £50m investment in the local startup scene.
But even if the tech industry’s downturn in London is over, it will not be the last.
Tech stocks are currently recovering in many European markets, including Spain, Italy and France, and many more are likely to follow.