Fund manager's comment/Tim Hurst
The UK is currently doing its best to illustrate that its geographical island status is mirrored by its resilience to worldwide economic woes. Specifically, the consumer is continuing to spend heavily as confidence levels are buoyed by still falling unemployment, rising real wage earnings, low and falling interest rates and a strengthening housing market. If this wasn't enough, the Labour Government was returned to power with a mandate to improve public services. This implies real growth in spending of around 4% per annum and early indications suggest that, unlike in the previous term,...
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