Economic disaster stalks the land once more as the Brexit effect takes hold at long, long last, sighs the BBC with relief…remember though last September when we said this about the BBC’s reluctance to report almost record high PMI figures…
Just a few weeks ago the BBC was trumpeting the then latest PMI figures that had dipped below 50 and in the BBC’s interpretation this definitely showed we were heading for recession due to Brexit. This ‘news’ was constantly and loudly broadcast on the day the figures were released.
How different yesterday when the latest PMI figures [53.3] were released showing that ‘the month-on-month increase in the PMI level was the joint largest in the survey’s 25-year history.’
The figures were released at 09:30, the BBC didn’t report this until around 21:00 and the radio news was totally silent all day on this remarkable turn around in contrast to the very high profile the figures received last month. Odd that the BBC was not chomping at the bit to get these latest ‘good news’ figures that give the lie to the BBC’s scaremongering about Brexit.
It seems we have had an effect and the BBC has taken note….they now leap at the chance to publish the latest PMI figures…
UK economy ‘loses momentum’ as services growth slows
Growth in the UK’s service sector eased to a five-month low in February, according to a closely watched survey.
The Markit/CIPS purchasing managers’ index (PMI) for services fell to 53.3, down from 54.5 in January. However, it remains above the 50 threshold that separates growth from contraction.
The economy has “lost momentum” after “impressive” growth [ignored by the BBC] at the end of 2016, said Chris Williamson of IHS Markit.
Markit said the sector had been stung by the steepest rise in costs for more than eight years as a result of the weak pound.
Wonder why the BBC are suddenly so keen to report these latest PMI figures and do so in such a dramatic fashion….the economy ‘losing momentum’ as a headline?
If idiots like the beeb would stop talking down the economy, and traitors like Berk-o would stop antagonising our greatest ally and trading partner, we might stand a chance of doing very well indeed post Brexit.
Greed Charlie – the way the BBC editors choose to promote certain stories/ events but ” filter out” others is key to the Left Multicultural Bias IMHO. I never thought I would need to look at RT or AL Jaz for differing approaches to the world to get a better picture. It is easier with RT because you clearly know what it’s agenda is – as so many friends on this site say – the problem is that the BBC is uk taxpayer funded and claims to be neutral – which sadly is far far from true.
It is interesting that Israel considers al Jaz far fairer to Israel then the BBC.
This index, to which Brussels Broadcasting attaches the significance of the tablets of stone, was spectacularly misleading post-Brexit, and as per usual they have seized o on a couple of months of mildly negative figures without taking the context into account. On-line shopping is having a significant impact on both consumer and retailer behaviour both before and after the Christmas period- the pre-Christmas last minute rush has been smoothed out and post- Christmas sales now start weeks before the end of the year. It is hardly surprising therefore that this is reflected in first quarter estimates which nevertheless remain well above the ’50’ threshold for economic expansion and which are still better than many other western economies. Secondly, despite all the noise, the UK’s inflation still remains below the average figure for inflation in the EU area, which currently stands at 2%.
The BBC has lots of form in highlighting negative monthly PMI news, whether for manufacturing or services, and largely ignoring upbeat monthly statistics. The fact is that month to month movements of these indices are not reliable and you have to look at trends. The BBC knows this but downplays it. What a disgrace that our market dominating, taxpayer funded news service is so untrustworthy .