Hat-Trick of Economic Good News to Kick Off 2017

As Remainers psychoanalyse every line of Ivan Rogers’ 1,400 word resignation letter, three pieces of good news have slipped under the radar. British manufacturing output and new orders hit their highest for the last two-and-a-half years yesterday. The manufacturing purchasing managers’ index rose to 56.1 in December, up from 53.6. Anything above 50 means British manufacturing is expanding. The UK has also secured £16.3 billion of new foreign investment since the Leave vote, including £12 billion from DONG, a Danish energy company, and £2.5 billion from Chinese construction firm CNBM to build 25,000 new homes. And to complete the hat-trick, the FTSE 100 reached another record high on the first day of trading in the New Year: the index soared to an intra-day record of 7,205.21. Reuters reports:

“Britain’s economy has fared much better than many economists predicted in the aftermath of June’s vote to leave the European Union, with consumer spending strong and companies continuing to perform well.”

Happy New Year!

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