Uk production is falling. In August it was down over 2 percent year on year. This number is completely consistent with last week's productivity data, which showed a decline in output per worker. This means that firms are hoarding labour.
That is not going to go on for very long. Soon, we will see a shakeout, and unemployment will rise.
The inevitable consequence of Brown's boom and bust.
3 comments:
A generation of youth groomed on endless credit and prosperity, now going to be told the party is over and they will have to share with the third world's migrants to Britain. Do you think that will go down well?
Nae, laddie that won't suit.
So does this mean there's a danger that we just might possibly skirt a recession in Q4?
Nick
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