‘Profits at the 350 biggest companies in the UK increased by 158% to £153.8 billion – a record high, helped by the weak pound’. The Times.
‘UK economic growth has slumped from the strongest to the weakest in the G20 in the past five years’. BBC.
‘Our economy continues to grow, year on year’. Philip Hammond.
Compare and contrast. Where are those increased profits going? Not back into our economy, that’s for sure.
There’s a perception that whatever might be the consequences for the rest of the world, Trump as President should be good for business. Surely, as a business man himself, he’d be the friend of Corporate America, and everything, money-making-wise, went pretty well last time around didn’t it?
OK, this sounds like good news, doesn’t I? Last month’s figures showed a fall in GDP, and three of those in a row equals ‘technical recession’.
Some cheery, pre-Christmas news, lost in the myriad of other happy, seasonal stuff. According to the Office for National Statistics, our economy has continued to shrink and if this shrinking continues, we’ll be officially recessed.