Some hints the deficit may be large enough to sustain some growth.

No doubt this will be spun as ‘see, austerity works’, when the same deficit could have been achieved proactively with a tax cut and/or spending increase before the austerity increased the deficit the ugly way, via depressing GDP and elevating unemployment.

Headlines:

U.K. House Prices Rise as Halifax Sees Stagnation in Second Half
U.K. Retail Sales Increased in May on Warm Weather, BRC Says
U.K. Services Unexpectedly Sustains Pace of Expansion in May

4 Responses

  1. Isn’t this bump a result of exchange rate shifts of euro financial assets into a safe haven?

    Can’t find the link.

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