Good news! No, wait, we mean… Bad news!
Two points of interest today. First of all the UK’s industrial output has fallen at the fastest rate in three decades – dropping by 2.6% in January over the previous month. This fall,reports the Times, was twice as bad as expected – although it doesn’t say whose expectations or what they were based on. Apparently the industrial output accounts for 18% of the total British economic output, so this is quite a big deal – although we’re suprised to learn that Britain has any sort of industrial output these days, since the economy seems to be based entirely on call centres and frighteningly complex banking services that nobody understands.
Secondly, the head of the International Monetary Fund was quoted as saying today: “The IMF expects global growth to slow below zero this year, the worst performance in most of our lifetimes.”
With think he might be trying to drop a subtle hint that things are going to be a bit rough this year…