ALEX BRUMMER: British economy showing all worrying signs of reverting to type - This is Money
The British economy is showing all the worrying signs of reverting to type. In spite of George Osborne’s fondness of being photographed in day-glo garb in industrial settings and his promise of a ‘march of the makers’, the only way they seem to be marching is overseas as the battle for Aga Rangemaster illustrates only too... New orders and export orders, both key indicators of future expansion, are tumbling. Contrast what is going on in manufacturing with the consumer side of the economy. Money and credit figures issued by the Bank of England show a 0. 5 per cent rise in July. Mortgage approvals reached 68,764 in July as borrowers took advantage of low mortgage rates. An air of normality has returned to the financial sector and the Bank of England will need to be vigilant if credit conditions do not run away with themselves as was the case in the build-up to the 2007-09 financial crisis. Source: www.thisismoney.co.uk
