UK 'Treasury chief' George Osborne said that he is "
cautiously optimistic about the path for the economy, the job is not yet done." [
WSJ] Well we all know that he is right re "caution" but he cannot claim the credit...nor can Darling but you can bet that both will. Click on the image of the graph showing what made up the "surprisingly high" growth to go to Stephanie Flander's blog (the BBC economics editor), Stephanomics. An interesting blogpsot with a update that notes that historically quarterly GDP numbers tend to jump around, especially coming out of a long recession. The following
SF post is equally interesting: the 2009 44% increase in public infrastructure orders - compared over 2008 - filtering through probably makes up the astounding 6% + growth in 2010 Q2 figures. That massive 2009 construction 'order book', knowing cuts were coming...almost as if a double dip has been built into the system...
In other important news: a fruit and cream lorry overturns on A30 in Somerset: [
link] driver says he feels a fool and was only trying to avoid a jam but got his just desserts. ...I'll get my coat.
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