Friday, June 15, 2012
April gloom on trade and construction
Posted by David Smith at 11:30 AM
Category: Thoughts and responses

Growth in the second quarter was an uphill task even before the latest trade and construction figures. The former showed a widening of the overall trade deficit from 3 billion in March to 4.4 billion in April, including a 10.1 billion deficit in goods, up from 8.7 billion.

This was a nasty set of figures, though they look a bit erratic. A 7.1% monthly drop in exports is hard to explain, however much trouble the eurozone is in. More details here.

Meanwhile, the Office for National Statistics came up with another awful construction number, down by 8.5% in April compared with a year earlier. The figures are here.