On the principle that no news is good news, which I write with some trepidation, there has not been that much bad economic data over the past few days. We have not had another poor inflation figure or a rise in interest rates, though that tells us as much about the calendar of meetings and releases as anything else. True, we have had some worrying news on the privatised water industry, and I relished the reassurance that Thames Water has “strong liquidity” as those fears persist.
So too, more generally, do the storm clouds over the economy, due to high and rising mortgage rates and stubborn inflation. With more strikes due in the NHS and on the railways, people have reason to wonder whether things
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