Thursday, 25 October 2012

I'm not crowing yet

I did predict some time ago a 1-1.2% growth in GDP at the end of the year, but that was for year-on-year growth. Today's figures show a 1% (or 0.8% if one takes out the notional contribution of the Olympics) increase of the third quarter of 2012 over the second. I am, however, looking forward to this time in January and the explanations from the IMF and others as to the accuracy of their forecasts.

It is surely the right time, before we experience another Lawsonian or Brownian boom-and-bust, to tighten mortgage lending rules, as the FSA intend to do.

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