- Business surveys are probably better guide to UK outlook than recent GDP data.
GDP is always a very lagging indicator.
- Pattern from forward-looking surveys is not as strong for outlook as latest GDP.
- Official data showing negative productivity growth in the UK last year is a puzzle, as it is usually associated with severe recession.
- Still a very severe health warning on quality of official labour force survey data.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
