The economic recovery is still some way from demonstrating it is fully on the road to recovery. Last week's budget may have had a mix of good and bad news but data from many market categories indicates that growth is a long way off.
We are involved in a number of markets. And can track short term variations in demand. Our observations showed that Autumn 2010 started poorly when a flood of bad news from the Conservative party conference depressed business and consumer markets. This news centred on the the so-called better off having to share the pain of paying for the deficit. Essentially anybody earning £42,000 was designated as rich. Effectively, families with a single wage earner on £42,000 were being asked to pay more so that the army of public sector workers and client state benefit claimants could carry on receiving their over generous transfer payments. The budget seems to have replicated the depressive impacts on many markets.
Bads news from a whole series of markets now seems the norm. With profit warnings and senior director dismissal being a regular feature of the newsflow.
I await some good news.
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