There’s so much depressing political news in the papers at the moment that it’s sometimes tempting not to read them too closely, but I actually found some real nuggets of positivity in The Sunday Times a couple of weekends ago which I thought I’d share with readers of my blog.
The first is that the construction sector recorded month on month growth of 1.8% in December, the biggest monthly increase since last April as new house building rose by 2.9%. On top of that, industrial production rose by 1.1%, which was nearly double the rate expected, and manufacturing was up to 2.1%, contributing to a very healthy annual growth rate of 4.4%.
The National Institute of Economic and Social Research has now estimated that the economy grew by 0.7% in the three months to the end of January, higher even than the 0.6% growth for the final quarter of last year.
From Mila’s point of view, that certainly tallies with our experience of a very positive start to the year and reports we’re hearing from customers that consumer spending is holding up very well. Some are even talking of a post-Brexit boost and, while I’ve talked previously on the blog about the negative impact which Brexit is having on rising costs, there’s no arguing with the fact that these are very encouraging figures for our industry.