As exports soar to a record high
exports of goods and services rose to a record high of £620billion.
“Far from the negative forecasts after the EU referendum, there is every reason to be optimistic.”
In other good news, the UK’s current account deficit was £17.7billion, £1.8billion down on the revised deficit in the previous period.
The figures raise speculation that there could be an increase in interest rates. Howard Archer, chief economic advisor at forecasters EY ITEM Club, said: “We expect the Bank of England to raise interest rates twice in 2019, taking them up to 1.25 per cent.” LIKE a healthy person besieged by doctors saying “you look wan and peaky, come to my surgery”, the economy continues to do just fine.
Jobs go on being created and productivity per hour is now rising at nearly four per cent a year.
Unemployment is at an all-time low. The public finances are improving fast and public debt has been PROF PATRICK MINFORD falling as a percentage of GDP for two years – because growth is steady.
What Remainers have missed is how the Brexit devaluation of 15 per cent has made exports surge while sensibly restraining our consumer spending.
Exports are growing fast to all parts of the world and foreign investment continues to grow strongly.
We now need Mrs May to take a firm line with Brussels so we can move ahead with a proper Brexit – free global trade deals and our own commonsense regulations.