It's the day when GDP data is announced for the third quarter of the year.
My sources tell me the news is positive - in other words it's growth and not recession. But they also tell me this is largely for technical reasons. In other words, some accounting wrinkles may help the situation.
It looks to me like this may well be a quarter where the real tale will be in the subsequent revision of this first estimate in a few weeks time and that today's news is being massaged for all it's worth to give a period of grace before the Chancellor's autumn statement.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Well, there is no doubt that the news will be spun as positive especially from the BBC and the PR frontmen Cameron and Clegg. What really amused me yesterday was the spectacle of Clegg complete with hard hat visiting Sheffield Forgemasters. I wonder if he has ever been inside this type of factory before and then he had the nerve to deny that the company had been allocated money from the Regional Growth Fund to repair the political damage he sustained last year when the Labour Government’s promised loan was cancelled. I am really cross about this as I know from personal experience ( I worked for a capital plant company in the West Midlands in the late 1960s ) that there has to be certainty for investment purposes.