The weather is the last refuge of a scoundrel. People always blame it when they don’t like this or that economic result, and the shock GDP contraction in the UK is no exception.But… let’s play devils advocate right now because there IS a lot of weather right now.
- Massive flooding in Australia
- Sharp cold in India/Pakistan
- Drought in the US
- Flooding in Brazil
- The biggest snow storm in ages in New York City
- Horrible cold and snow in the UK
The thought of ignoring all of this while looking at retail/food/GDP numbers seems ludicrous, no?