07 July 2009

So much for the experts!

Oh to be an economist!

1. The British Chambers of Commerce says the worst of the recession is over.

2. Official data showed that manufacturing output fell 0.5% in May. Analysts had forecast a rise of 0.2%.

3. Industrial production, a wider measure which includes energy supply, mining and oil and gas as well as manufacturing, fell 0.6% against forecasts of a rise of 0.2%.

4. Last week, the Office for National Statistics (ONS) sharply revised its GDP data for the UK, saying the economy shrank by 2.4% in the first quarter of 2009, compared with its earlier estimate of a contraction of 1.9%.

The experts are one thing, the facts are something completely different.

Digg This

No comments:

Post a Comment