So much ugly data coming out of the UK these days.
Last week, UK Q2 GDP came out at -0.7%, far worse than the -0.2% that was expected.
Now a slew of numbers out from the BoE show that money and credit are shrinking rapidly.
And from Ed Conway at Sky News:
Photo: Ed Conway
Indeed, per this chart from Reuters’ Scotty Barber, the housing market appears to be triple-dipping…
Photo: Scotty Barber, Reuters
So yes, horrible GDP, shrinking money supply, collapsing mortgage approvals, and a triple-dip in home prices.
More QE on the way, it seems.