All sorts of mixed economic news for our little-old economy this week. There was ’negative growth’ (really?) in July. It’s not an official recession unless we have three of those in a row, so don’t panic yet, Capt Mainwaring (kids etc.). Other headlines, unemployment is up as is, paradoxically, wage growth which is ‘catching inflation’. What does it all mean? Nothing straightforward, but nothing particularly good, either. However, if it’s your investments you’re worrying about (and why not), it’s the bigger picture, as ever, which has the bigger influence. That’s China and America, where, respectively, things are rarely as they seem and not as bad as they are here. So glass 7/16ths full. I’d say.
As inflation remains unchanged and interest rates head up again, there’s ‘no hope on the horizon for hard-pressed households’. And why would there be, as ‘if it ain’t hurting, it ain’t working’.