Britain’s trade gap in May rose “unexpectedly” to £8.5 billion, up from April’s £7.6 billion. Newspaper reports said that analysts expected it to fall.
In June, British factory output also “unexpectedly” fell by 0.4 per cent, and Britain’s deficit in goods trade with the rest of the world worsened to £8.873 billion, the biggest deficit since December. The analysts had expected a deficit of £8.1 billion.
Every month these analysts make their forecasts, and every month they get it wrong, and always in the same direction. Who pays them for all these bad guesses? ■