There’s a short article in the FT today, suggesting that stagflation could be rearing its ugly head.  I’ve always thought it was an ugly word for an unpleasant situation – one where growth is low or non-existent, but prices are rising. It’s worth remembering that the Bank of England has a remit to keep inflation at.

David Cameron in his speech to Conservative Party Conference today talked about China.  I got the impression that he was asking whether the British economy should be more like China, which is “creating a new economy the size of Greece every three months”. Now, putting that claim aside (at least until Tim Harford or FactCheck come.

I keep hearing commentators on the radio talking about our ‘weak growth’ and am getting fed up shouting back at them.  For it was only last month that the ONS figures showed the current recession is slightly worse that we thought, with GDP shrinking by 0.3%.  That’s shrinking, not weakly growing, a distinction that seems.