The UK Is Coming Out With Some Awful Economic Numbers

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.

From Markit:

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Photo: Markit

And from Ed Conway at Sky News:

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Photo: Ed Conway

Indeed, per this chart from Reuters’ Scotty Barber, the housing market appears to be triple-dipping…

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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.

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