The good, bad (mostly) and ugly of the Q1 national economic accounts
When the economy grows only 0.2%, there will not be much good, but
GOOD
This was revised higher from 0.1%, due to a new methodology for construction. Essentially, this is taking usual slow revisions early
BAD
Business investment. Total investment has been unaffected by Brexit, but business investment growth effectively stopped since the Conservative victory in 2015 and uncertainty descended.
Compare the two here
BAD
UK still an outlier on the global stage. It is the only G7 country to see growth slow in 2017
John James, CEO of Star group, a customs agent says without an agreement there will be a “catastrophe” in the south east
Lorry flows have risen fourfold since 1993 and customs agents have declined. “We believe it will be impossible to get goods cleared because of a lack of agents”
Takes over a year to train an agent. If customs doc is completed away from a port it takes over 10m each. Got to fill in 84 fields on a form