Web links for 21st December 2011
A marvellous post from Inequalities Blog – good stuff on working out how common or othewrwise fraud is, but the best stuff is on “how we misjudge the deservingness of others.”
The most depressing and downbeat Agents’ Summary for years: Consumer spending is growing slowly in nominal terms, but volumes are down on last year; Further softening in the housing market; Investment is down, because “the general improvement in activity expected earlier in the year had not materialised.”; Growth of goods exports slowing as world demand softens; Business services turnover growth has slowed; Manufacturing output for the domestic market is still growing, but at a slower rate; Construction down slightly on a year ago; Credit stil tight for SMEs, though not lor larger companies, but “little appetite to take on additional debt.”; Employment to “remain broadly flat over the coming year.”. The bright spot is inflation. Raw materials inflation is easing; import price inflation is still high, but this reflects “past increases in raw materials prices, as well as rising production costs in some emerging markets” – which will ease with the global downturn.