NOT very good Retail numbers yesterday, remember from my comments Economists were predicting -0.1% fall….well it came in at -1.3% MoM (march) while YoY dropped from +3.6% to +2.7% …not surprisingly GBP (USD) took a cold bath and was sold off aggressively. As I mentioned yesterday (oh and thank you to those who liked my comments on LI) staying in the EU is simply a must if we are to enjoy the fruits of a single market.
I might not agree with (some of) President Obama’s foreign policy, but I certainly do agree with his comments yesterday that the UK MUST stay in the EU. The President warned that a vote to leave the EU will leave Britain less able to tackle terrorism, the migration crisis and any economic shocks in the global economy. I completely agree. We are STRONGER as a UNIT than as an island!!!
This is what makes me wonder what Boris and Gove are getting at. Yes it costs money to be a member and yes it’s a lot (which could be argued could be better spend at home)…but the negatives are simply too much to ponder. PM David has and is doing a sterling job at trying to negotiate a better deal with the EU and I am sure he will succeed and get the UK better terms of trade. However this will and does take time, time he has and which is why we all voted for the Conservatives.
Have a good weekend
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