Is the UK economy stuck?
If the data released from The British Chambers of Commerce is correct then, yes!
The gloomy picture painted suggests the UK economy growth in 2018 will be the weakest since the 2088/2009 recession.
The British Chambers of Commerce say the UK economy as a whole is ‘treading water’. Is this entirely down to the uncertainty created by BREXIT?
On the other side of the BREXIT coin, statistics recently published suggest the Eurozone economy improved in the second quarter.
Compared with the previous three months the Eurozone economy grew by 0.6%.
Another report out today (08/09/17) from the Office for National Statistics (ONS) suggest manufacturing output expanded in July 2017.
But there is still little sign of improvements in trade deficit (despite the pounds fall)!
We also see reports this week of slowing China exports (but still at 5.5% although down from 7.2% in July). We generally have a feel that the global economy is doing okay – but this piece of data from China goes against that opinion.
There are many reports and analyses produced on a daily basis., national and international. Some conflict. Take housing data for example – this often varies. I think the best way to navigate this regular bombardment of economic data we experience is to ‘take a general view’ and not to just accept any one set of data. Collate your data and then do your own analysis and research. Don’t get lazy and accept just one opionion – especially if this is the one you like!!
There is a thing called ‘unconscious bias’. I’ll do a post on that soon. But it affects the way we think especially when we ‘take out’ the ‘bits’ we want that suits our frame of mind or thought processes at that time.
As I said, I’ll do a post on ‘unconscious bias’ soon.