While we are all back to the rah rah rally and economic cheerleading in the MSM, I thought this report on U.K. manufacturing was telling.
U.K. manufacturing production unexpectedly slumped in August to the lowest level since 1992, a sign the economy is struggling to shake off the recession.
Factory output dropped 1.9 percent from the previous month, the Office for National Statistics said today in London. Economists predicted a 0.3 percent increase, according to the median of 26 forecasts in a Bloomberg News survey. The index of manufacturing fell to 87.8, the lowest in 17 years.
Now, think about how China and India economies are on fire, expecting large GDP growth.
This has nothing to do with good old fashioned outsourcing and bad trade deals could it? Nah....