London's Economy 1900 - 1939

Previous page: Interwar Expansion

Due to the effects of the building boom, unlike much of the rest of Britain during the interwar years, London's economy remained fairly prosperous.

London escaped the worst effects of the Great Depression of the early 1930s as it had relatively little heavy industry. At the height of the Depression unemployment rates briefly reached 13.5%, but by the end of the decade, they were among the lowest in the country. During this time, London was successful in attracting many of the new and developing industries such as the electrical industry - almost half of the new factories opened in Britain during the 1930s were in the Greater London area.

Next page: London Politics 1900 - 1939