Another week, and more good economic news which has not been awarded the attention it deserves. The Office for National Statistics (ONS) has released economic growth figures for December, which show a much stronger-than-expected economy. Construction output in December was up 1.8 per cent on November, and 0.6 per cent up on December 2015. Manufacturing output in December was up 2.1 per cent on November and 4.0 per cent up on December 2015.
There is encouragement in the export figures, too – which show just how strong a shot in the arm has been provided by the lower pound. In December British firms exported £31.4 billion worth of goods and services, 8.4 per cent up on November and 16 per cent higher than in December 2015. The bad news is that the fall in sterling has not helped to dampen our appetite for imports and so narrow the trade gap.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in