Tuesday, March 22, 2011
Public finances bad, CBI good
Posted by David Smith at 12:00 PM
Category: Thoughts and responses

Perhaps very good public finance data for February would have been too much of a temptation. Even so, the numbers were disappointing, with net borrowing of 11.8 billion in February compared with 9.5 billion in February 2010. The cumulative undershoot compared with last year is still a significant 13.1 billion on net borrowing but only 4.8 billion on the current budget deficit. So an undershoot, but these are still very big numbers. More details here.

In contrast to the disappointing public finances (and inflation) data, the CBI had some cheer. Its industrial trends survey showed domestic orders' balances at their best since March 2008 and output expectations their best since February 2007. More here.