Thursday, February 03, 2011
Obscurantism over Osborne's orthopraxy...
Under-reporting the good bits! Last week Angel Gurria, secretary general of the Organisation for Economic Cooperation and Development (OECD) said the "UK must stay the course" [listen]. He states that the UK is being courageous putting everything that was needed on the table; he reiterated where we are now is a result of what happened before and that underlying inflation is under control. This was in response to massive media coverage of the unexpected drop in growth; since then there have been a series of good figures: "This week the economic news has been so much better." writes Tim Montgomerie. UK manufacturing growth at fastest since records began [BBC] and the Construction industry returning to growth [ Markit/CIPS PDF], despite being reported, don't seem to get the same "gory" headline coverage as the GDP drop. One response now will surely be those joining the 'Andrew Sentance camp' in calling for an interest rate rise, that will get the Press attention.
Posted by Span Ows at 1:29 pm