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frederico

Industrial Production Down 0.7%

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Was just about to post same on Chamber of Commerce thread:

UK production fell between April and May, contrary to market expectations. Manufacturing was the major culprit, declining 1.3% month-on-month (+0.4% expected).

The figures are volatile and are subject to revision, but the Index of Production release is a significant forward indicator of growth.

IoP_May2014.gif

http://www.ons.gov.uk/ons/dcp171778_369799.pdf

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Clearly they're not lobbying enough...


Bovis Homes completed the most homes in its history in the first half of the year, it said. The average sale price rose 11% to £210,000. It expects a "material increase in profit for the first half year compared to the prior year."

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The credit impulse from FLS/HtB appears to have exhausted itself. Simple enough to predict. Remember, It's credit acceleration that most closely corresponds with changes in economic output not the stock of outstanding debt. A much weaker H2 2014 GDP print is now indicated unless Osborne borrows more than forecast in his spring budget.

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Why waste effort producing for very little reward when money is cheap to borrow and the markets are going up, up, up?

Load the debt and roll the dice!

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The credit impulse from FLS/HtB appears to have exhausted itself. Simple enough to predict. Remember, It's credit acceleration that most closely corresponds with changes in economic output not the stock of outstanding debt. A much weaker H2 2014 GDP print is now indicated unless Osborne borrows more than forecast in his spring budget.

But he is a Man of Austerity and Seriousness and Stuff and so won't even think of going on an unfunded pre-election splurge.

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Seems way off the survey data and way off the market expectations. I guess we have to wait for the trend. The pound has though somewhat strengthened to above 1.70 to the dollar and strengthened against the Euro.

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Seems way off the survey data and way off the market expectations. I guess we have to wait for the trend. The pound has though somewhat strengthened to above 1.70 to the dollar and strengthened against the Euro.

These news events are purely used to knock people out of their long positions into stronger hands. There are much stronger forces in play than a simple report when it comes to currency movements.

The £ is going up, nothing will change that. However, 1.73/74 start looking for a pullback, if you're going to America buy now.

Edited by honkydonkey

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These news events are purely used to knock people out of their long positions into stronger hands. There are much stronger forces in play than a simple report when it comes to currency movements.

The £ is going up, nothing will change that. However, 1.73/74 start looking for a pullback, if you're going to America buy now.

Not sure I agree with that entirely. Sterling trend is upwards as long as Osborne's mega-bubble remains intact. If London comes apart then look out below.

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Not sure I agree with that entirely. Sterling trend is upwards as long as Osborne's mega-bubble remains intact. If London comes apart then look out below.

Some other big forces at play - serious risk to the dollar, spying on their allies, the popuations of their allies, their leaders and their coporates, then fining foreign corporates whilst letting off their own for massive fraud. Big fail of military power in aftermath of Iraq etc and more debt than ever. Deals being done in other currencies. Could there really be a breakaway from USD?

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Some other big forces at play - serious risk to the dollar, spying on their allies, the popuations of their allies, their leaders and their coporates, then fining foreign corporates whilst letting off their own for massive fraud. Big fail of military power in aftermath of Iraq etc and more debt than ever. Deals being done in other currencies. Could there really be a breakaway from USD?

The Pound is appreciating against a basket of currencies, though. I can't see it lasting. The fundamentals are all wrong.

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The Pound is appreciating against a basket of currencies, though. I can't see it lasting. The fundamentals are all wrong.

Have been for years though.

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