July 22 (Bloomberg) -- A U.K. index of factory orders fell in July to the lowest level since January 1992, the Confederation of British Industry said today in London. The gauge, from a monthly survey of manufacturers, fell to minus 59 from minus 51 in June, the U.K.âs biggest business lobby said in a statement. http://www.bloomberg.com/apps/news?pid=20601087&sid=aDsMc1qHhxj0 I think, I am a FTSE seller...
No green shoots for the British? Is this whole green shoots thing a spotty development, or can it only blossom if the global economies of the world are moving in concert? I'm asking because there's a lot of crabgrass in places like the U.K., the U.S., Japan, Spain, Italy, and much of Eastern Europe.
The green shoot part of the story is "There are still factories in the UK". Expectations were that all of them went out of business
Well, retail sales have been bouncing a bit recently, which is mostly due to a weak pound. Otherwise, everything's still getting worse, but this 'worse' is better than people's expectations, which were rather dire.
Things may stop getting worse, with small increases in GDP before the election, but afterwards government expenditure which is 50% of gdp will be cut 10-20%. So add -5% to the decrease in the private sector GDP, estimated at -4.5% this year and -1.8% last year, and we are technically in a depression, -10% gdp but it may be a w recession instead.