It’s not often you get me posting a headline like that eh? Must be the summer madness kicking in!
But further to my post yesterday suggesting increasing expectation for the second reading of UK Q2 GDP this Friday we also had the revised upward forecast from the CBI earlier today.
And what with Jim’s crane spotting at the week-end ( still to be supported by photographic evidence though!) and Ryan’s street awash with builders and decorators it seems that evidence is creeping in that the UK may be showing signs of some confidence returning, albeit with much of it in the south of our illustrious isle.
I still need to see more household spending to add consistency to the last retail sales release, and the negative wage impact being attended to before I’m getting too excited though. And, as I’ve warned on many occasions before, the moment the finger comes off the easing button the fragility of our economy will be only too evident.
So of course I welcome and see reasons for the growing positive vibe, and as someone who has his own business interests I hope they prove to be correct. I may even buy the odd pound or two along the way.
Just don’t ask me to get in happy-clappy mode just yet.
