Monday 21 May 2018

Finally some good news -- but recovery hasn't happened yet

IT sounds pretty good. The vital services sector growing healthily and hiring extra staff for the first time since March; the Live Register at the lowest level in more than two years.

The services survey follows Monday's finding that manufacturing is also expanding and that conditions improved for the seventh month in a row.

It is certainly better than the opposite. Yesterday's data are the latest of several to show an economy which has stopped crashing; often described as "bumping along the bottom". The next stage is recovery -- but that has not happened yet.

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