20 Sep 2012

Commercial activity contracts in all nine monitored sectors

Last week John Major, former PM, was saying he could see green shoots.

Meanwhile Markit Economics says in a 12 Sept press-release "Commercial activity contracts in all nine monitored sectors". Note that this is a survey rather than a forecast so is less likely to be bullshit, though their methodology and error rates are still entirely obscured.

Meanwhile in Europe “The Eurozone downturn gathered further momentum in September, suggesting that the region suffered the worst quarter for three years.

You have to ask what the fuck Major had been smoking - or why anyone is interested in what he has to say anyway (I think he has a new agent because he's been popping up quite a lot lately).

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Keep is seemly & on-topic. Thanks.