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March 20, 2008

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Quinn

"City economists are scrabbling around for excuses. February's unusually bright weather got people into the shops. And the early Mothers' Day also inflated sales, as folk bought harps for their mams."

Just a personal note. My brother works for a car hire firm, an industry not normally associated with Mothering Sunday or good weather. He said he has been mad busy since the turn of the year, busier than normal. I wondered if this was down to the management buyout his firm was undergoing, but he stated it was solely down to the increase in business going their way. Now perhaps they are just being a successful in their field, but perhaps the slowdown is being a little over-egged.

kinglear

I think the problem is within the amounts of tax that the City pays. One would have to assume that this is going to be massively less this 12 months, and perhaps our Leaders are spinning all this to show how it's nothing to do with them that OUR taxes are going up.The real economy ( in Scotland at any rate) is not showing signs of cracking, but, of course, the previous property crashes were not overnight but a searing long drawn out experience over several years, which may yet happen.

David Barrie

There's a lot of talking things down just now to speculate up - maybe this is what's going on. The financial markets have a great, if worrying slap-happy phrase for it: 'trashing and cashing' or 'trashing and pumping'. *:-o

Glenn (aka angry economist)

You're right Chris - its another case of journalists and others portraying the stock market as THE ECONOMY. When it really is not an accurate reflection of it.

Also I guess we are underestimating the progress in the UK economy over the years, and that there might be more resilience there.

And doom and gloom makes much better headlines than "UK economic growth declines very slightly, but nothing much happened."

I can't see much price inflation on the high street. I always look on the internet for the keenest price now. There's such a lot of competition in retail these days.

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