Two scary charts
Ugh, horrible GDP figures. Despite the revision upwards, it’s confirmed that we’re in the third quarter of a double-dip recession. Not so long ago, manufacturing was the only bright spot in the economy and George Osborne famously banked on a “march of the makers” that would carry Britain aloft. Unfortunately, those hopes seem a bit premature now; if the whole economy looked like manufacturing, we’d be in the fourth quarter of recession:
Oh dear. Well at least things look better for services don’t they? And that’s three -quarters of the economy; phew!