Austerity works

Construction Down 4.8%

Services up 0.1%

Manufacturing No change

Trade Deficit

Up 0.4%

First quarter stocks were down £2.2billion lower than in final quarter of last year. Death of the Equity Cult.

Business Investment Up 3.6%- companies around here are using this period as a tme of investment. That is what you are supposed to do at a time of recession. They are in their third year of this though.

Consumer Spending rose 0.1%.

Yes. What needs to be addressed is red tape, give banks more intravenous QE and cut interest rates when the reason lending doesn’t go to start ups is risk, not interest rates. Risk created somewhere else entirely. Anyone got a plan for a white elephant folly we can do? Buy some guns…I’m sure they’ll let us into Syria soon…

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