Consumer confidence shows households are as upbeat about the economy as they were in 2007, as the last expansion was about to end. But that good cheer hasn’t translated to stronger spending. As has been the case throughout most of this recovery, the spirit is willing but the wallet is weak. Paymasters European Commission. Number of people surveyed 2000. Wow. Very odd how the US & UK readings are the same. Must be a double stitch up.
Good morning all. Three days ago , I had an email from a broker 'Buy TESCO' and I bought 1500 shares, was tempted to by lot more but resisted. Today it dropped to a double digit loss. Thank you broker!!! No it is not MF. The weather man/lady are doing a better job these days.The brokers tell you that they do research on the companies!!!. GLA
Lending to small businesses through the Funding for Lending Scheme (FLS) fell by Â£435m in Q2 2014, figures from the Bank of England revealed yesterday, with analysts arguing that the scheme's overall purpose - to stimulate funding to businesses - hasn't been achieved.
Despite this being less of a contraction than the previous quarter (which posted a fall of Â£723m), net lending to all business fell by Â£3.9bn over the period. Commenting on the figures, John Longworth, director general of the British Chambers of Commerce, said: "Although the decline in lending to SMEs was less than in the previous quarter, Funding for Lending continues to disappoint.
Many [smaller firms] remain frozen out when it comes to accessing the finance they need to fulfil their potential.
These figures reiterate that much more needs to be done to fill the major gap in the provision of SME finance in the UK." Analysts from Hargreaves Lansdown were equally as disparaging in their comments, and pointed out that, since the FLS was introduced, savings rates have fallen considerably - in some cases by almost half. Laith Khalaf of Hargreaves said: "The jury is still out on the Funding for Lending Scheme and today's figures don't increase the chances of a positive verdict. The Bank of England will maintain that the scheme will take some time to have full effect, but [in the] meantime savers are bearing the brunt of the pain in their deposit accounts and cash ISAs."
As proven, with this post, a 'spin' can be used, and is, on most scenarios, to paint a glowing or dim view on most fiscal subjects and matters.
So the previous cut and paste by MY21, 'UK consumer confidence', could, and probably has been artifically created by the Government to increase it's chances of staying aboard the 'gravy train' for the next few years.
The truth will 'out' after the next General Election whoever is aboard that train.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.