Oof, That Is One Ugly Number From The UK

bank of england from WIKI

Today’s daily-dose-of-austerity…

Via DailyFX Team: “UK TOTAL BUSINESS INVESTMENT (Q1) Q/Q COMES IN AT -7.1% WORSENING SIGNIFICANTLY FROM A FLAT READING IN Q4 2010”

Other data out includes, ironically, government spending growth of 1%, vs. the 0.2% expected. Imagine how bad things would have been if the number came in as expected.

Meanwhile, Q1 GDP was unrevised at 0.5%, but household spending tanked.

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