The UK is now considered to be the real sick economy of Europe, as the sterling has been hammered all year on bad data, and expectations of future easing.
Fresh numbers out today only confirm the mess.
Bad #UK eco data: Industrial output -1.2% (forecast +0.1%); factory output -1.2% (forecast no change)
— Michael McKee (@mckonomy) March 12, 2013
UK Manufacturing Production y/y (Jan) Actual: -3.0% Survey: -1.0% Prior: -1.5%
— Michael Hewson (@michaelhewson) March 12, 2013
Politically, leadership is seen as being in disarray, with the governing Conservative party seeing horrible poll numbers.
Week before Budget appalling industrial production numbers.Not sure what else could go wrong for Osborne?
— Louise Cooper (@Louiseaileen70) March 12, 2013
Meanwhile, the pound, which as we said has been doing so bad lately, is getting crushed again on the news.
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