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Cup half full is needed for 2012

IFA’s Enable of Bishop’s Stortford are determined to have a cup half full view of the New Year. Just before Christmas the Office for National Statistics, revised up our quarterly growth rate in the three months to September by 0.1%. Something to celebrate. There will be some pedants about who will point out that the figure for the previous quarter was revised down, by 0.1% – meaning we are pretty much exactly where we thought we were and they might also point out that the current account deficit hit a  record £15.2bn, or an alarming 4% of GDP. But we also know that these trade figures jump about a lot from quarter to quarter and the average current account gap for the first three quarters – at 2.7% of GDP – is below the 3.1% of GDP for the same period in 2010.  So it could be worse but it’s not.

It might be easy to see why the likes of India and China can be so much more upbeat than us and the real living standards in Brazil rising will clearly cheer people up there.  But Italy’s economy is now only about 1% bigger than it was a decade ago, and the forecast for the next ten years within the euro, is not much better and they are more optimistic than us. Even the Spanish with a fifth of the Spanish workforce unemployed are being more upbeat than us. Enable IFA’s might be able to help you look at your glass differently.

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