Four bits of recent news, then: (1) sudden drop in London house prices over the summer. (2) fall in food spending over the same period (almost certainly substitution from more expensive to cheaper products); (3) mortgage refusals up; and now (4) manufacturing growth slows. This is a slightly disparate list - you can make a story around all of it, but I think its a bit of a stretch as yet. (Worth noting, too, that UK manufacturing output is still c.9% below its pre-crash level.) As before, keep an eye on it.
Posted on: Tue, 02 Sep 2014 10:21:38 +0000
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